Something’s Gotta Give – Ep 798
The Peter Schiff Show Podcast
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Home Prices Are Up 20 % Year Over Year
Even before mortgage rates shot up, home prices were so high that affordability was at an all time record low. But now the cost of borrowing money to buy those houses are soaring. Home owners will have to cut back on spending in other areas if they want to keep their homes. It's exactly why the economy is going into recession. The fed had all the money because they were creating it out of thin air. When it doesn't create power, it destroys value of money that already exists.
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