November 24, 2007

Peter Schiff makes Fox News worth watching



Love the Fox News paid monkey pumping the supposed "good news on housing", spinning that new home sales were "up 3%" (vs. the prior horrific month which he didn't mention). I guess he didn't want to say that new home sales had actually PLUMMETED again vs. last year. That would be honest after all. Nice to have Schiff there to piss on his REIC happy spin, and calmly discredit the hysterical (and coked up?) real estate "investor" brought on to back up Cavuto.

I do have to give it up though to Fox News for even having Schiff on. They do it to try to humiliate him (the 'doom-and-gloomer'), but as we all know, he ended up being right on everything, and the right wing REIC stooges like Mike Norman that Fox stacks against him have been fatally and forever discredited.


36 comments:

Anonymous said...

Peter Schiff is the modern day Robin Hood. Proves it everytime he goes on Fox and gets the truth out.

Anonymous said...

YO, IF SOMEONE HAS LOTS OF TIME THIS WEEKEND...

PLEASE EMAIL THIS PETER SCHIFF LINK TO EVERY ONE A CRAGISLIST PHOENIX/SCOTTSDALE WHO IS TRYING TO LEASE/ SELL A HOME.

Anonymous said...

Peter Schiff is a fraud just like his old man.

If you had something really truthful and useful for the American people to hear, something that they really needed to know, do you think Fox network would put you on one of their shows like they do with Peter Shiff?

Paul E. Math said...

That poor woman. Talk about bringing a knife to a gunfight.

Schiff had her capitulating and giving up her original point within the first minute. She begins by saying that the 3% increase in housing starts indicates that things are turning around in housing. Then Schiff says 'here we go again, another so-called analyst calls a bottom'. Then she says she's not calling a bottom, noone can possibly call a bottom to it. Okay, then what was your original point, ma'am?

Why do they even bother bringing on some to debate Schiff? Why don't they just have an interview with Schiff and ask him where we are headed? It would really avoid a lot of wasted time having to listen to some bozo or bimbo who doesn't know their own ass from a hole in the ground.

Anonymous said...

An extra 5% down in the hot foreclosure market. Yeah right, maybe an extra 5% before the end of the year.

But I think Schiff is way off as well with 1999 or lower prices. Take 2000 prices add 3% a year and that is where we'll be by 2010.

For areas like Las Vegas and Phoenix that had 50%+ appreciation in one year, it will be a brutal fall. Wouldn't surprise me to see 60% drop from peak.

In other areas like Dallas or Atlanta that had barely any appreciation during the boom, the fall will be in the 5% area.

Not to get all NAR but real estate is local to a large degree. You cannot compare Las Vegas and Phoenix to Pittsburgh or Omaha.

Anonymous said...

Woohoo... party like it's 1999 with the Schiffster. hehe

Well if Fannie and Freddie Krueger do actually implode, I could see prices going back to 1999. Otherwise just 2003.

Anonymous said...

She needs to go back to her brass pole.

g-love said...

Wow- that broad is a dunce---bet she'd look great in a bangbros episofe though!

It's a pity Shiff even has to waste his breathe trying to counter her inanity.

Anonymous said...

Danielle Babb?

How stupid do you have to be to make comments on TV?

How about a reality show, will call it Real Estate Retards...

Her 15 minutes are over. See YA!

Anonymous said...

.

Geeeez.........

Typical real estate snakeoil, can't come to terms with a dropping market!

"The demand was there?

Were is it Now?

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Anonymous said...

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Another dim bulb calling the bottom!

I live in San Diego, plenty for sale, I just have not seen any appreciable price drops!

So you can't call a bottom unless you know how far we have to fall!

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Anonymous said...

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I guess if your title has Real estate anything in it, that is a guarantee of another BullS**T artist!

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Anonymous said...

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Sciff is a good man, it took a while but he's right so far!

Too right
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Joe said...

The end of this video is the best. Schiff called this whole deal a phoney boom. The interview then ends abruptly. FOX is so bogus.

Anonymous said...

Every time is hear another Shiff interview I want to wire more money into my Euro Pacific Account. Where do they find these Realtards?

Anonymous said...

American Hero Peter Schiff

Anonymous said...

I'm still waiting for CNN and the leftwing MSM to give Peter Schiff a voice. So far, only FoxNews will give him a podium. The rest of the leftwing media pretends he doesn't exist. Somehow FoxNews is the biased network?

mythical markings said...

This is too funny. A friend the other night ask me how low will Home prices fall here in Tampa, as I warned him for 2 years to dump his 2nd house, only to be ignored.

I told him that it was my belief that 1999 prices should be expected, and he replied 'that low' with fear in his eyes, and i stated yes because the pendullum swung too far in one direction; it will swing too far in the other.

Now i see the schiff prediction on U-Tube. Gawd that guy is smart! LOL

k.w. - southern ca. said...

Peter Schiff, if you read this blog from time to time ... keep it up, we should have had a dose of truth like this years ago.

Greed and lax lending standards drove this phony housing bubble to what we have now.

Down here along the Southern Ca. coast, houses are still sitting ... lots of lookers, but no buyers.

People will hang-on as long as they can, but the monthly bills don't stop, and salaries are not going up for the majority of US workers.

It's so obvious things will get much worse before they even start looking better.

Is this still "doom-and-gloom" talk? Perhaps Mr./Mrs. "Dopes" would like to comment?

k.w. - southern ca. said...

How many people are really concerned that more and more US families can barely afford their housing costs?

The few percentage that can afford living in large Mc-Mansions do not even make a dent in correcting the problems we see in the housing sector.

The problem is not contained to anyone sector of housing - it's the entire sector.

I'm not sure how much more truth is required about this mess before people start really waking up - but it's coming to a town near you whether you like it or not.

k.w. - southern ca. said...

A cousing of mine has been trying for months to sell her house in Vista (down your way), but with no luck.

The instinct of most people who have bought into overpriced housing is to hold on for as long as possible, but the problem is only getting worse.

People - whether they want to admit it or not - believe this, but just hope things turn around before they have to start taking really desperate measures.

As long as prices remain artificially high, the problem with housing (and it's impact on the economy) will only be lengthened that much longer.

Anonymous said...
.



Another dim bulb calling the bottom!

I live in San Diego, plenty for sale, I just have not seen any appreciable price drops!

So you can't call a bottom unless you know how far we have to fall!

Anonymous said...

cavuto is fking babb. i think she use to be a hairdresser before she became an re analyst.

Anonymous said...

I don't expect Fox to keep him on because he is really starting to question government inflation statistics on alot of their programs. If they're connected to Fox News in any way, he'll be revoked within a few more weeks. Then he can go back to CNBS and really have his intelligence insulted by Mark Haines or Larry Kudlow.

Anonymous said...

Latest numbers from Florida...not good. Keep in mind that these numbers are probably manipulated to look much better than reality. Pay special attention to the ramped fraud going on in Miami, as the prices rise 5% while sales sink more than 40%:

South Florida Business Journal--Far fewer South Florida existing single-family homes and condominiums sold in the third quarter than a year ago, a Florida Association of Realtors report shows.

In Miami, 1,250 single-family homes sold in the third quarter, down 42 percent from 2,137. The average price inched up 1 percent in the quarter, to $380,400 from $377,700. The number of condos sold plunged 43 percent to 1,290 from 2,264, as prices rose 5 percent to an average of $272,000 from $258,200.

In West Palm Beach-Boca Raton, the number of single family homes sold during the quarter fell 15 percent to 1,644 from 1,935 as the average selling price slipped 4 percent to $365,400 from $380,900. The number of condos sold fell 19 percent to 1,235 from 1,528, as the average selling price fell 15 percent to $190,800 from $224,000.

In Fort Lauderdale, the number of single-family homes sold fell 31 percent to 1,498 from 2,164 a year ago, as the average selling price declined 2 percent to $364,400 from $371,100. The number of existing condos sold during the quarter also fell, 26 percent to 1,510 from 2, 047. The average selling price fell 12 percent to $181,300 from $206,400.

Near South Florida, median existing single family home prices:

* fell 7 percent in Fort Meyers-Cape Coral, to $243,800 from $263400, as the number sold decreased 39 percent, to 1,273 from 2,078.
* fell 13 percent in Fort Pierce-Port St. Lucie, to $218,300 from $252,000, as the number sold decreased 18 percent, to 916 from 1,123.
* fell 9 percent in Melbourne-Titusville-Palm Bay, to $196,500 from $215,400, as the number sold decreased 27 percent, to 1,192 from 1,625.
* fell 2 percent in Naples-Marco Island, to $519,800 from $532,000, as the number sold decreased 7 percent, to 77 from 83. However, information for the area is not reliable, as the numbers are only from the Marco Island Association of Realtors. Data from the Naples Area Board of Realtors and Association of Real Estate Professionals were not included.
* fell 18 percent in Punta Gorda, to $178,600 from 217,500, as the number sold fell 24 percent, to 597 from 786.

Near South Florida, median existing condo prices:

* fell 18 percent in Fort Meyers-Cape Coral, to $225,000 from $275,500, as the number of units sold decreased 27 percent, to 327 from 447.
* fell 14 percent to $183,600 from $213,800 in Fort Pierce-Port St. Lucie, as the number of units sold decreased 22 percent, to 152 from 194.
* fell 9 percent in Melbourne-Titusville-Palm Bay, to $184,700 from $203,700, as the number of units sold decreased 10 percent, to 294 from 325.
* fell 11 percent in Naples-Marco Island, to $354,500 from 397,400, as the number of units sold decreased 13 percent, to 90 from 103. However, again, information for the area is not reliable, as the numbers are only from the Marco Island Association of Realtors. Data from the Naples Area Board of Realtors and Association of Real Estate Professionals were not included.
* fell 4 percent in Punta Gorda, to $163,300 from $170,000, as the number of units sold decreased 58 percent, to 50 from120.

Statewide, existing condo sales declined 26 percent to 9,622 from 13,028. The average selling price dropped 4 percent to $196,300 from $205,000 a year ago.

Princess Mononoke said...

OMG!!! Danielle is delusional and an incompetent IDIOT.... What a fool!

Have you all seen the latest NAR commercial? It makes me want to PUKE!

Anonymous said...

Greg Swann must hate Peter Schiff

Anonymous said...

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That broad may not know S**T from shinola, but she'd make you glad to be a man.......or a woman!


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Anonymous said...

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Back to the brass pole indeed!

I got a pocket full o fin's!


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Anonymous said...

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Schiff is the man!

Calm, Cool, knows the subject and isn't afraid to call B.S. when he sees it!

Gotta love him!

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LauraVella said...

She's drinking lots of cool-aid, and probably owns some rentals herself, no wonder she thinks we're at the bottom!

Surprise! this is just the beginning. After the holidays things will really start rolling!

Anonymous said...

Cavuto is a dunce. He would fit in well with the CNBS crowd. Building more homes while there are millions of empty units is a sign of a turnaround?

LauraVella said...

I see prices here in the bay area easily going back to 1991.

I'm not just saying this...

In all previous bay area recessions prices always drop to the height of the previous boom.

k.w. - southern ca. said...

Many of the bay area residents are (or were) housing speculators within the central valley regions.

In large part, this group of people were responsible for raising housing prices beyond the reach of many residents living in the area.

Now, many of these folks are walking way, leaving a trail of forclosures in their wake.

Meanwhile, their own home towns are being effected as well.


LauraVella said...
I see prices here in the bay area easily going back to 1991.

I'm not just saying this...

In all previous bay area recessions prices always drop to the height of the previous boom.

Anonymous said...

Another blond bimbo realtor calling the bottom with her BMW 3 series parked out in the studio lot and starbucks coffee right beside her.

Anonymous said...

No wonder people aren't lowering prices yet, they listen to the advice of realtors like this.

Annette Wrenn said...

Not one of the sheeple here. Found your blog and just wanted to say I'm impressed. I am a new blogger who hopes to reach a few. Also, a big Ron Paul fan.

Keep up the good work.