Peter Schiff Says US Housing Market Faces Collapse Risk, Sees Sharp Drop in Home Prices and Job Losses
JH Kim
Summary
- Peter Schiff said the U.S. housing market is facing a severe downturn and that home prices could plunge in the period ahead.
- He said industries tied to the U.S. housing market could also face large-scale job losses.
- Schiff did not provide specific figures for the expected drop in home prices or the scale of job losses.
Forecast Trend Report by Period
Peter Schiff said the U.S. housing market is facing a severe downturn and projected a sharp drop in home prices along with major job losses across related industries.
Walter Bloomberg reported on October 5 that Schiff, discussing the outlook for the U.S. housing market, said the market "is dying."
He said U.S. home prices could fall sharply in the period ahead. Industries tied to the housing market could also suffer large-scale job cuts.
Schiff did not provide specific estimates for how far home prices could fall or the scale of the job losses.
JH Kim
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