Peter Schiff Warns U.S. Housing Market May Face Worst Conditions in History
JH Kim
Summary
- Peter Schiff said the U.S. housing market could face the worst conditions in history.
- He said a sharp rise in construction costs and higher mortgage rates were the main drivers behind the worsening outlook for the U.S. housing market.
- Schiff did not provide specific forecasts for home prices or transaction volumes tied to the U.S. housing market.
Forecast Trend Report by Period
Peter Schiff warned that the U.S. housing market may be facing the worst conditions in its history, citing a sharp rise in construction costs and higher mortgage rates as the main reasons.
Cointelegraph reported on October 19 that Schiff made the argument while discussing the outlook for the U.S. housing market, saying construction costs are rising sharply and mortgage rates are also climbing.
He said the combination of higher construction costs and rising mortgage rates could make conditions in the U.S. housing market even more difficult.
Schiff's remarks reflected his personal outlook on the U.S. housing market, and he did not provide specific forecasts for home prices or transaction volumes.
JH Kim
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