Blowhard homedebtors Neil Cavuto and David Lereah team up to take on Peter Schiff on whether there's a housing crash underway.
Peter talks about prices are ridiculously high, bid up in a speculative mania with lax lending standards, how renting is significantly cheaper than buying, and how Lereah and the NAR are acting like the dot-com stock touters in the '90s. He predicts a collapse of 50% to 70%.
The Corrupt David Lereah spouts about how the media is talking about a bust when it's not a bust, and how their $40 million ad campaign is to counter the bubblemeisters. Pleads that people shouldn't compare the real estate bubble to stocks in the '90s.
Hilarious video. Enjoy!
January 30, 2007
Posted by blogger at 1/30/2007