Even with Fixed Rate Mortgages, you have to be concerned with property taxes increasing every year which essentially raises your mortgage payments if you have an escrow account (which most mortgage paying homeowners do).
Peter Schiff is without a doubt one of the smartest men in America and is helping his fellow Americans with all his knowledge. Thank you Mr. Peter Schiff.
Peter....I love most of your mantras....I'm a Mortgage Branch Manager. I have not originated an A.R.M in 2 years. * With FHA you have to show that you have the 3.5% to put down up front..You don't get the Gov rebate until 6 weeks after you close.....Very few originators are still originating ARS, especially FHA ARMS.
Seeing the same here in Maryland... Ryan Homes and other builders are selling townhomes and it surpises me on how gullible ppl are because here in Frederick County townhouses have not returned to their pre-bubble prices. Single family homes too are selling well too, although the sq footage of new homes is less. The Us Gov is creating a suckers buy!
I love anger in debate. So beautiful. Anyways, if you don't want to lose friends lie. If you want to tell the truth then you will lose friends. Simple as that. I'm not saying any which way is wrong; just stating the obvious.
The National Security and Homeland Security Presidential Directives, created and signed by George W. Bush on May 4, 2007, claims power to execute procedures for continuity of the federal government in the event of a "catastrophic emergency". Such an emergency is construed as "any incident, regardless of location, that results in extraordinary levels of mass casualties, damage, or disruption severely affecting the U.S. population, infrastructure, environment, ECONOMY, or government functions."
Sorry for the nasty replies... those comments threw me over the edge.
Anyway thanks for the update Peter. If you win the Senate seat then I'll actually start gaining faith in the people of this country.... or at least Connecticut.
You can make money investing in real estate whether the market is down, up or sideways just depends which niche you want to go into(Tax delinquent prop, pre-foreclosure, reo's etc). Right now I am trying to learn how to get free and clear properties and try to negotiate with the homeowner to give me owner financing rather than going to the bank and renting the home out. Remember guys get rid of fiat currency and put it into commodities.
Ron Paul is in Congress not Senate. Turn on your TV and you'll see what kind of things he's been stirring up, thanks to him America is getting on fire in regards to big government and the FED.
First off, is degrading others really a way to show everyone how intelligent you are? I am not sure about your intelligence, but I can be pretty sure that this kind of conversation won't make you many friends.
Second off, everyone knows what I really meant, congressman in congress - the house of representatives, and senator in senate - also part of congress, but senators are never called congressmen, the name is used for members of house of representatives.
How am I trying to show people that I'm intelligent?
The fact that the majority people don't understand how our government works is just really starting to piss me off.
I understand what you meant after that explanation but look at what you originally said..... you didn't call him a congressman you just said he's in Congress not the Senate. That doesn't make any sense at all.
I apologize for the name calling though... after reading yandranko's comment yours threw me over the edge
amazing he actually rents a house? well he must know what he is doing - "they are money pits" haha very true. excellent vid again - Government knowledge par excellence`
peter and ron paul are better role models than my parents.. i'm glad i had a chance to hear from them during the presidential campaign when i was still in college, and my brain still wasn't locked up.
I'll tell you Peter, it's because that's all he had to sell! He makes more money on that product! It's what he has to sell... He also does NOT have his finger on the economy! You should find another guy.. May I suggest a real Bank... leave the professional originators and see a Bank Branch Manager!! Someone you've done business with for years.. don't trust them.. You should ask him if he's a home owner and what his credit it... You might be surprised... credit in the dump and not a home owner!
You probably already know Peter, the Conservative party in the UK have in no uncertain terms told the British tax payer that we are going to have possibly years added onto our retirement age due to this debt !. That is one of the stings in the tail left due to the financial incompetence of the previous administation.
you can go and buy almost any business for what it makes in a year why would anyone in the right sate of mind would go to stock market to pay 10 , 20 , 30 , 150
times that ? Because that is exactly what you do when you buy stocks .
Thanks Peter - sound advice on home buying. I recently tried to buy a home. I had a 5% down payment and was looking at a lower price range of around 300-350k in a decent area bc i didn't want to spend more than 25% of my income per month on the mortgage. The 8k wasn't why I was looking to buy nor invest. I wanted to buy because I hate the landlord stuff too. Every Realtor tried to get me to spend 500-600K. I got so pissed at the whole process that I just decided to rent. I made the right choice.
Wait... so he takes a huge loan and then invest it in something he thinks blocks inflation then waits as inflation makes his huge loan pocket change? Genius!
Acttually his intentions are same as everyone's - To make MONEY !
If you are convinced there will be high inflation and you know that in that high inflation times, your earning also keeps up with inflation, then it makes sense to take a FIXED interest rate loan @ the LOWEST rate you can get for the LONGEST period of time and the LARGEST amount you can eligible for.
This is called LEVERAGE, if you know what you are doing you get rich very fast, else you get bankrupt.
A friend recommended your channel to me. But, my apologies, it seems to me you are not particularly bright. In all of your videos you enunciate, in my view, only completely obvious information and opinions. I guess you are aiming at a not very well informed market. Anyway, I will watch a few more of your vids before I decide whether or not you are worth paying further attention to.
My request is, if you are capable of raising your game, please do so. If not, I will, of course, unsubscribe.
constablekohler. Allow me to answer your first couple of questions directly. I am not a specialist. But I do prefer to be entertained by quality information and opinion. Please don't take offense. That is just my preference. Having had the channel recommended to me, I had anticipated better. Perhaps what is actually problematic is that I know more about the issues than you do. Allow me to add, I so far regard the SchiffReport as aimed at folk not so well informed as I regard myself to be.
Hey you may be absolutely right in saying that you know more about the issues than I do. So what? the point is that Mr. Schiff has no reason to change his style just to please you... I could imagine this maybe being true in a situation where schiffreport only had 2 subscribers...but that obviously isn't the case. Schiffreport has 11,000+ subscribers, losing one is just chump change, man. I'm sure there are other channels out there that cater to your level of expertise, go find them.
Schiff is without doubt a provocative thinker. I respect him for that. In my view, we must always challenge ideas proposed to us.
Your profile suggests you are 23 years old. Can I ask why you are passionate in your views and whether you have graduated university?
If you are 23, I am a lot older than you. But do not denigrate your views on that basis. My honest view is that we all learn from each other, whatever our age and whatever our educational level.
I most definitely agree with you about challenging ideas and that we can all learn from each other.
I am 23 years old and I have yet to graduate from university. I stopped attending school to find work (there were other factors involved but money was a primary one.) Although I've been out of school, I've continued to read, write, study and learn.
I don't believe that anyone should take care of me, or that anyone has to take care of me. Put another way, I shouldn't be dependent on anyone else to live my life. I feel the best way to avoid this situation is to take an interest in the world, study it, form opinions and know why I support those opinions. Then, it's possible to try to work in ways that move the world towards those ideas.
I can't know what about the world needs to change or what to try and change in the world unless I first figure out for myself what about the world offends me.
I can not offer a better alternative. I am inclined to feel that I am the same as you. Essentially, inquisitive. Also, would enjoy to find a reliable commentator.
Honestly, I find Schiff long on words and thin in content.
What a joker. Who the heck are you that Peter Schiff has to impress you or you will unsubscribe? Go ahead fool, remove yourself from our presence you pompous behind.
Yeah, talk about "thin on content." For all the words he posted here, the only real content was "I'm going to unsubscribe." No substantive criticism whatsoever.
Residential real estate is the second worst investment out there. Factor in the amount of property taxes, assessment fees, rennovation money, upkeep costs, realtor commission, adjustment for inflation... who cares if you bought at 225,000 and sold for 300,000? You haven't made squat.
If you want an investment, buy a stock.
For the curious, cars are the #1 worst investment.
This comment has received too many negative votesshow
Schiff is a great investor that knows nothing about real estate. If he thinks that we will have major inflation then now is the best time to buy a home. Inflation causes rent and construction costs to go up.
Not necessarily, housing prices may rise with the general inflation, but they probably won't rise as quickly as other prices (as we still have significant overhang capacity), so other investments (such as foreign stocks or commodities) will rise more. Remember: you want the value of your asset to rise MORE than the rate of inflation.
FINALLY, Schiffs says something that makes sense!! Houses are NOT investments, they are a home. A place to raise kids, have family meetings, your place. Just like kids, we love them, we protect them BUT they are financial liability!
The kingdoms of men are progressively weaker and weaker and the current world government is the weakest and is very temporal and has been brought about to end the times of men and its history before the return of the Lord and God Jesus Christ. There will be no other kingdom arising from the ruble, these are the last events before the new millinium which will be ruled by Jesus Christ on the earth
Peter, You can quit crying wolf, the only people that don't believe what you're saying are the wolves themselves. You're watching a well orchestrated demise of the current free market system which will become an exclusive, nonpublic entity which will claim rights of all resources and labor. You'll see civil wars breaking out around the globe with high civilian casualties, this is the first horseman and then famine and then death and hell encompassing the earth before the Redemption of man
Thank you and may the Lord encourage you to keep looking up because mans redemption is drawing near. Its an exciting time to be alive when you see the hand of the Lord moving across the earth and concluding all things pertaining to His church and the affairs of men
This broker certainly hasn't seen "Peter Schiff was right" video, if he did, then he wouldn't recommend Peter to finance purchase through AR mortgage :)
youtube is working to censor the videos by capping the viewer rate at 302 so that they don't rise up too quickly and become a today favourite or popular... Google's pretty much bought up by the government...
Mr. Schiff: I agree with 95% of what you say and I enjoy your educated analysis. I recently bought Crash proof 2.0 and donated to your campaign even though I live in California. The only thing I beg to differ is, when you say the United States does not make anything anymore. Don't we have Microsoft, Apple, Google and some of the best technology companies in the world . We also have the safest country and the most fair judicial system in the world, and that is why you and I live here, right?
I think he means that these companies are no longer producing their stuff in USA, instead like most of companies they moved their production to China or other asian countries.
Sure, Microsoft and Apple are producers and they help the USA economy, but Google is not producing anything. Nobody is buying Google products, but rather, they make money from advertising.
Also, why do you say the USA is the safest country in the world? I can understand that this has been told to you, but I can assure you it is not the safest. See the CIA World Factbook for more information.
A LOT of advertising.....it really defeats the whole "convenience" feature of the new youtube channel video lists by having an ad take up much of the list space.
It would be nice if someone else can build a new GUI using existing Youtube APIs. This way, we can get the benefit of the content, but not forced to view it in a limited way.
I wish the previous format would return as for one thing it makes viewing playlists much easier.
Google does produce something-they just monetize it through advertising, just like TV programs monetize their products through advertising. Don't get me wrong-I don't like the way Google has managed YT since they took over, I'm just pointing out that they do engage in productive activities for their money.
Generating income by selling advertising on Google or television is not monetization, that is simply generating income by selling advertising exposure. Monetization simply means CREATING new currency/dollars.
Er...monetization can mean different things, depending on the usage. I said that google "monetizes" its traffic by selling advertising space to make money off of a process that wouldn't yield revenue otherwise (ie, letting people use their search engine for free), not to imply that they create new money as in when the federal reserve "monetizes" debt (by printing up new money and buying the debt).
It must be my conservative nature, but for some reason I bought a brand new home in 2005. I put down 10% and took out a 30 year mortgage and life has never been better.
One bad part;
I know live in a neighborhood full of abandoned houses and green swimming pools. The common thread among the 50% of that still live in the neighborhood. We didn't over spend and didn't take out an ARM.
Despite this in your face fact, they are still trying to get people back into ARMs??? Doomed.
Awesome video, so basically if we buy a house now we will make money as a debtor because inflation will wipe out our debt is that what he said, woo hoo im getting a house :) no but seriously is that truem Shiff? can you talk more about that
Haa! The broker must not have known Peter. Don't let people trick you out of your money everybody! Just know that's what they are after. You can live without credit cards. I know, I've never had a credit card and might be older than Peter. True too about the cost of owning a home. I feel I'm just paying rent to the gov!, it's too much! taxation=slavery
Why should there be a real estate agent at all if Peter is buying from his landlord. It sounds like a perfect case of owner for sale. Peter certainly does not need the agent to prepare his papers. His own attorney would do.
I wonder what % is Peter's seller paying the real estate agent/broker? Is part of it passed on to him?--one disadvantaged of not paying all cash. And all the interest you have to pay in the first years of the loan?
I didn't understand what peter is complaining about here.
If peter is thinking about getting a fixed rate 30 yr mortgage @ a very low rate hoping to benefit by the inflation, Its possible that the mortgage banker also thinks there will be high inflation (and higher LIBOR) in future, so instead of giving a free (after inflation) mortgage to Peter, the guy tried to sell him a ARM so that the interest can be floating. So the mortgage banker is a smart banker right?
The broker would be smart for short term -- because he would have successfully sold a home which earns him commission, possible bonuses,etc. But long term, say LIBOR shot way up like Peter mentioned, than the bank loses the house and it becomes another foreclosure.
The banks should PREFER the FIXED mortgages even if they are historically low because that is less risk to them.
You'd think with all of the foreclosures banks would of learned their lesson.
So for a mortgage banker, he is losing in both the cases (Assuming he is actually holding the mortgage and not selling it to someone else) - Fixed mortgage by inflation, floating mortgage by writeoff. So if I was a banker and owned that institution, I wouldn't make ANY loans right now. However in this case, the guy who makes the loan is getting a commission on it, also that loan eventually owned by some poor soul in china / japan (so banker still smart no?
Because Syphilis is incurable and causes neurosis and even death and gonorrhea is a temporary condition which usually subsides over a few weeks.
AH HA! so you're saying that the host (which i suppose would mean the government) cannot be cured from inflation usually and can only fully get rid of it when it dies.
And deflation is only a temporary which the society can fully recover from.
But we've had deflation AND inflation. So I guess that means the government is a complete whore.
It's worse because it's harder to fix. (especially with a fiat currency like ours, it's like pushing a boulder down a hill)
Deflation is self-perpetuating, but you can print to reflate and hopefully (if you're lucky) stabilize things.
Inflation is self-perpetuating, but in a debt-driven consumer economy, there is no fix once it has started.
It's like the economy's on fire, and we are surrounded by nothing but gasoline. Government's response is "we might as well throw SOMETHING on the fire."
In inflationary collapse is worse than a deflationary collapse because it wipes out the only folks who have any savings to fund the restart of a viable economy. On the other hand, a deflationary collapse increases the value of their savings, making it easier for them to fund a restart. The inflationary collapse erases most of the debts of irresponsible spendthrifts, but destroys responsible savers. Most irresponsible spendthrifts will declare bankrupsy anyway, so they're not "forever stuck".
Well inflationary collapse is worse, because your fiat money is worth less, and things are more expensive. If money is worthless, very likely it won't turn around. Look at Zimbabwe, they dollarized the currency instead of the domestic sovereign currency. Dollarization is most likely to happen with hyperinflation. The market naturally turns to something else that much more value than the failed one. Deflation is really a result of strong currency, and liquidation, and savings which is much better
Peter its ok! Im sure many of us watching this video are homeowners..Why rent when you can buy. If you put some money down and can live within your means its ok. No ones gona judge you because you need shelter! Now if you start "fliping houses" then your "street cred" needs to be looked at ;)
I'm sitting here wondering why you would even finance a house. Being in debt is like being a slave - the house belongs to the lender until it is owned outright.
I know a guy who's suing his realtor, for knowingly selling him an "overpriced" asset. WoW! The guy is facing foreclosure, but he thinks he'll win the suit. What's next, appraisers or mortgage sharks being sued? I think so.
ISn't it a little funny though that everyone was a "realt estate investor" in 2005. They took whatever loan they could get and could care less about the terms and didnt even want an explanation because they had green eyes! Now 4 years later they own 3 houses worth 50% less and they cry "Realtor fraud Realtor Fraud!"
If you want to play a game with sharks you shoud of at least learned how to swim.
I am also considering buying a house this upcoming year, not because I think housing has bottomed or that it will be a great investment, but because I am sick of having to move my stuff around every 1 or 2 years =D
The greatest regulatory control comes from customers and competition. The bailouts reinforce suicidal sales practices that could not persist under free market discipline.
Follow the Rising Sun Peter. That's the direction you want to go. Good job into not being suckered into a ARM, then again you have a gigantic brain of common sense. I also read some articles that gold is a bubble because demand for jewelry, and manufacturing has declined. Is it a bubble, or is it because gold is real money? I would say obviously money, not because of demand for it in manufacturing, and jewelry. Well that's my thinking about it. What's yours? Clarify, agree? Well good luck.
The gold options expire tomorrow, and every month the commercials on the comex, which are jp morgan chase and goldman and HK shanghi bank etc, write the options, and they have to screw the people out of their gains by rigging the market. Theyve had an investigation going on for a year and they still cant find anything wrong w/ the concentration in those markets - 63% in the case of gold (2 commercials), and 3 commercials in silver (around 89% of all the shorts).
In the gold option market, goldman, morgan, and hsbc are acting of behalf of the us gov. Another reason gold, silver, commodities are down is the us gov is doing a 182 billion financing mon tue wed and dribbles thurs. Once the options close it will turn back up again.
I think Peter should ask the mortgage broker to sell him a swap contract on his mortgage. If the mortgage broker and the bank are so confident, then he should be willing to put some skin in the game to back up his big talk in exchanges for a small fee. I do this all the time at work with salesmen from prospective suppliers to shut them up with their promise everything & deliver nothing sales tactics. If Wall Street is allowed to still play around with derivatives then so should main street.
225Vikings, Do you think peter Shiff scans these comments so he can answer your question? buy a book or 2 do some homework! or wait for some magic fairy to answer it for you.
Peter, why don't you just buy the property/house outright? We pretty much get that your landlord is in trouble, and you were just playing with the broker to get some insight into how Wall Street still works after the bailouts. Why get into the hassle of ANY kind of loan, adjustable OR fixed; just buy the house OUT. Do you really want to be paying all that interest over thirty years?
Pete you are talking to a Salesman not an advisor unfortunately Straight talking mortgage guys dont make as much as those with the big pitch selling gimmicks with no comprehension about the Macro picture, I know I have been a Mortgage Guy for 24 years. and have always gave responsible advice that was best for the client not me.
I'm a mortgage broker Peter and I would never try to sell you an ARM in this market. Call me, I'll do it for a total fee of 1% (including mortgage broker fee, processing fee, whatever) and if I can get it all from the lender in yield spread - even better.
For all you brokers that will say this is not a good deal, I say yeah right, you know you make more than 1% on most deals
lol When I bought my first house I got suckered into an ARM. When I was signing the mortgage the closing agent told me that I should refinance as soon as possible. I took his advise and refinanced a year later and locked in my rate. However, now I rent out that home and I'm lucky enough to have a positive cash flow.
You'd have to be a retard to take an ARM today. The Fed will be forced to raise rates when hyperinflation takes off and there'd be no possible way to keep up with rate increases.
It will be interesting to see when the majority of Americans wake up to the fact that the US monetary system is fraudulent and the stock market is fraudulent. It's all a big game for the central bankers to rob people of wealth. My dream is for American citizens to abandon the paper money for silver/gold and take away all the central bankers power. That would be heaven. 2012?
Fed Judge R.D. Drain wiped out a $461,263 mortgage debt on the property. Thats right: the mortgage debt disappeared, via a court order. — I think that I have a more than 50%doubt that if the debtor paid this claim, it would be paying the wrong person, dubious proof of ownership tactics may no longer be accepted practice. They may even be viewed as a fraud. Some judges are starting to scrutinize the rules dont matter methods used by lenders and their lawyers in the recent foreclosure wave.
Hope? What are you some Obama Re-tread? Schiff has been repeating himself for the past three years, where the hell have you been? It's a bit late to be skeptical about Peter Schiff.
Instead of asking question, mabey you should just shut up and listen.
masakit sa bulsa ang mortgage, kahit papano kailangan mo bayaran un everymonth ..
makeiteasyable 3 months ago
Even with Fixed Rate Mortgages, you have to be concerned with property taxes increasing every year which essentially raises your mortgage payments if you have an escrow account (which most mortgage paying homeowners do).
sonic2batt 2 years ago
Peter Schiff is without a doubt one of the smartest men in America and is helping his fellow Americans with all his knowledge. Thank you Mr. Peter Schiff.
Chieflandite 2 years ago 2
Peter....I love most of your mantras....I'm a Mortgage Branch Manager. I have not originated an A.R.M in 2 years. * With FHA you have to show that you have the 3.5% to put down up front..You don't get the Gov rebate until 6 weeks after you close.....Very few originators are still originating ARS, especially FHA ARMS.
hardmod777 2 years ago
Seeing the same here in Maryland... Ryan Homes and other builders are selling townhomes and it surpises me on how gullible ppl are because here in Frederick County townhouses have not returned to their pre-bubble prices. Single family homes too are selling well too, although the sq footage of new homes is less. The Us Gov is creating a suckers buy!
1776uspatriot 2 years ago
Has anyone looked at the leaves changing colors?
I think I'll take my dog for a walk.
Football is 3 days away.
The King of Queens is one of my favorite TV shows.
What's for lunch?
How did I end up watching this video?
ThePowerWithinMe 2 years ago
Thats amazing the banks have learned nothing....or its all in the plan.
IWashMyOwnBrain 2 years ago 2
Thanks again Peter.
McRocket 2 years ago 4
I love anger in debate. So beautiful. Anyways, if you don't want to lose friends lie. If you want to tell the truth then you will lose friends. Simple as that. I'm not saying any which way is wrong; just stating the obvious.
fs413a 2 years ago
The National Security and Homeland Security Presidential Directives, created and signed by George W. Bush on May 4, 2007, claims power to execute procedures for continuity of the federal government in the event of a "catastrophic emergency". Such an emergency is construed as "any incident, regardless of location, that results in extraordinary levels of mass casualties, damage, or disruption severely affecting the U.S. population, infrastructure, environment, ECONOMY, or government functions."
elitebanktyranny 2 years ago
Sorry for the nasty replies... those comments threw me over the edge.
Anyway thanks for the update Peter. If you win the Senate seat then I'll actually start gaining faith in the people of this country.... or at least Connecticut.
elitebanktyranny 2 years ago
Ron Paul is a representative from Texas.
Congress is made up of of 100 senators, 2 from each state, and the representatives; the number of which are based on the population of each state.
Currently I believe there are 535 representatives.
MOPEDBRAD 2 years ago
Some guy tried to sell Peter Schiff on something to do with economics? Are you kidding me?
bigbrownanimal 2 years ago
You can make money investing in real estate whether the market is down, up or sideways just depends which niche you want to go into(Tax delinquent prop, pre-foreclosure, reo's etc). Right now I am trying to learn how to get free and clear properties and try to negotiate with the homeowner to give me owner financing rather than going to the bank and renting the home out. Remember guys get rid of fiat currency and put it into commodities.
jjorge730 2 years ago
You live in lala land.
varange2 2 years ago
You should stop watching MSNBC, CNN, and Fox News.
Try reading a book. Maybe do some research on your country's politics since the early 1900's.
You live in "I don't give a fuck, screw me" land.
elitebanktyranny 2 years ago
"Hopefully if I make it to the U.S. Senate I can change that."
Just like how Ron Paul has change things in the Senate?
furyofbongos 2 years ago
Ron Paul is in Congress not Senate. Turn on your TV and you'll see what kind of things he's been stirring up, thanks to him America is getting on fire in regards to big government and the FED.
yadranko 2 years ago
Second off, you're a bigger dumbass. The Senate is part of the Congress.
Ron Paul is in the House of Representatives.
elitebanktyranny 2 years ago
First off, is degrading others really a way to show everyone how intelligent you are? I am not sure about your intelligence, but I can be pretty sure that this kind of conversation won't make you many friends.
Second off, everyone knows what I really meant, congressman in congress - the house of representatives, and senator in senate - also part of congress, but senators are never called congressmen, the name is used for members of house of representatives.
yadranko 2 years ago
How am I trying to show people that I'm intelligent?
The fact that the majority people don't understand how our government works is just really starting to piss me off.
I understand what you meant after that explanation but look at what you originally said..... you didn't call him a congressman you just said he's in Congress not the Senate. That doesn't make any sense at all.
I apologize for the name calling though... after reading yandranko's comment yours threw me over the edge
elitebanktyranny 2 years ago
First off, you're a dumbass.... Ron Paul is in the House of Representatives.
elitebanktyranny 2 years ago
He shouldn't buy a house because a lot of people will call him a hypocrite, and there's no room to explain like this in reality.
hardhittn63 2 years ago
amazing he actually rents a house? well he must know what he is doing - "they are money pits" haha very true. excellent vid again - Government knowledge par excellence`
lenny380 2 years ago
Take the ARM until you are elected to the senate and then get a real sweetheart deal. :P
jmccabe4 2 years ago
That morgagebroker just tried to convince the wrong guy :D.
Keep on working Peter, I get tired watching you ;) haha, no Im a fan :)
StefanJohanssonX 2 years ago
peter and ron paul are better role models than my parents.. i'm glad i had a chance to hear from them during the presidential campaign when i was still in college, and my brain still wasn't locked up.
spyletu 2 years ago
I'll tell you Peter, it's because that's all he had to sell! He makes more money on that product! It's what he has to sell... He also does NOT have his finger on the economy! You should find another guy.. May I suggest a real Bank... leave the professional originators and see a Bank Branch Manager!! Someone you've done business with for years.. don't trust them.. You should ask him if he's a home owner and what his credit it... You might be surprised... credit in the dump and not a home owner!
stayingawake20 2 years ago
2.5% mortgage rates NOW, AFTER Fannie Mayhem?
HMOG.
TylerNull 2 years ago
Well done Peter. Argue with idiots, and you become one. These companies could CARE LESS about us, they already got their money.
69QuIzAcK69 2 years ago
You probably already know Peter, the Conservative party in the UK have in no uncertain terms told the British tax payer that we are going to have possibly years added onto our retirement age due to this debt !. That is one of the stings in the tail left due to the financial incompetence of the previous administation.
FlyingFox1971 2 years ago
And that my friends is why you don't bail out failing companies. And yes this applies to the car manufactures as well.
heavyarms117 2 years ago
you can go and buy almost any business for what it makes in a year why would anyone in the right sate of mind would go to stock market to pay 10 , 20 , 30 , 150
times that ? Because that is exactly what you do when you buy stocks .
tuktukktotam 2 years ago 5
actually Dow only worth less that 100 in real values
most companies are worthless or close to worthless making little or no money
way overpriced prospect of making money are terrible , salaries down jobs down . Population control in progress . Dow future is doomed
drinkinwithbob 2 years ago
I do not regard stock market , most people that I know lost money in stock market
and most of the same people made money in real estate
stock market is for those insiders who operate in milliseconds so they can safely rob you without risking a penny
tuktukktotam 2 years ago
Thanks Peter - sound advice on home buying. I recently tried to buy a home. I had a 5% down payment and was looking at a lower price range of around 300-350k in a decent area bc i didn't want to spend more than 25% of my income per month on the mortgage. The 8k wasn't why I was looking to buy nor invest. I wanted to buy because I hate the landlord stuff too. Every Realtor tried to get me to spend 500-600K. I got so pissed at the whole process that I just decided to rent. I made the right choice.
measax 2 years ago
This has been flagged as spam show
E X C E L L E N T ! ! ! So clear!!! Thanx Peter!
ronpaulspanish 2 years ago
Gold is getting clobbered again today, Looks like the dollar is going to have a rally for about a week or so.
Vunks2000 2 years ago
ARM mortgages are such a predatory scam
ForTehNguyen 2 years ago
Wait... so he takes a huge loan and then invest it in something he thinks blocks inflation then waits as inflation makes his huge loan pocket change? Genius!
RoronoaZoro222 2 years ago
You're some how right ! Worst episode ever !
I'm puzzled about his intention !
secretarul 2 years ago
Acttually his intentions are same as everyone's - To make MONEY !
If you are convinced there will be high inflation and you know that in that high inflation times, your earning also keeps up with inflation, then it makes sense to take a FIXED interest rate loan @ the LOWEST rate you can get for the LONGEST period of time and the LARGEST amount you can eligible for.
This is called LEVERAGE, if you know what you are doing you get rich very fast, else you get bankrupt.
vinayakaca 2 years ago
A friend recommended your channel to me. But, my apologies, it seems to me you are not particularly bright. In all of your videos you enunciate, in my view, only completely obvious information and opinions. I guess you are aiming at a not very well informed market. Anyway, I will watch a few more of your vids before I decide whether or not you are worth paying further attention to.
My request is, if you are capable of raising your game, please do so. If not, I will, of course, unsubscribe.
desdays 2 years ago
what are you desdays? some sort of god who needs to be entertained? Why should anyone have to up their game just to keep you from unsubscribing?
constablekohler 2 years ago
constablekohler. Allow me to answer your first couple of questions directly. I am not a specialist. But I do prefer to be entertained by quality information and opinion. Please don't take offense. That is just my preference. Having had the channel recommended to me, I had anticipated better. Perhaps what is actually problematic is that I know more about the issues than you do. Allow me to add, I so far regard the SchiffReport as aimed at folk not so well informed as I regard myself to be.
desdays 2 years ago
Hey you may be absolutely right in saying that you know more about the issues than I do. So what? the point is that Mr. Schiff has no reason to change his style just to please you... I could imagine this maybe being true in a situation where schiffreport only had 2 subscribers...but that obviously isn't the case. Schiffreport has 11,000+ subscribers, losing one is just chump change, man. I'm sure there are other channels out there that cater to your level of expertise, go find them.
constablekohler 2 years ago
You make fair points.
Enjoyed the the conversation with you.
desdays 2 years ago
Sure. No problem.
constablekohler 2 years ago
Schiff is without doubt a provocative thinker. I respect him for that. In my view, we must always challenge ideas proposed to us.
Your profile suggests you are 23 years old. Can I ask why you are passionate in your views and whether you have graduated university?
If you are 23, I am a lot older than you. But do not denigrate your views on that basis. My honest view is that we all learn from each other, whatever our age and whatever our educational level.
Regards
desdays 2 years ago
I most definitely agree with you about challenging ideas and that we can all learn from each other.
I am 23 years old and I have yet to graduate from university. I stopped attending school to find work (there were other factors involved but money was a primary one.) Although I've been out of school, I've continued to read, write, study and learn.
constablekohler 2 years ago
I don't believe that anyone should take care of me, or that anyone has to take care of me. Put another way, I shouldn't be dependent on anyone else to live my life. I feel the best way to avoid this situation is to take an interest in the world, study it, form opinions and know why I support those opinions. Then, it's possible to try to work in ways that move the world towards those ideas.
constablekohler 2 years ago
I can't know what about the world needs to change or what to try and change in the world unless I first figure out for myself what about the world offends me.
constablekohler 2 years ago
dedays, being better informed, would you offer a better alternative? Do you recommend a better YouTube source for info?
safeinsuburbia 2 years ago
Hi safeinsuburbia,
Excellent question!
I can not offer a better alternative. I am inclined to feel that I am the same as you. Essentially, inquisitive. Also, would enjoy to find a reliable commentator.
Honestly, I find Schiff long on words and thin in content.
Regards
desdays 2 years ago
What a joker. Who the heck are you that Peter Schiff has to impress you or you will unsubscribe? Go ahead fool, remove yourself from our presence you pompous behind.
oldtoottoot 2 years ago
oldtoottoot, I will certainly unsubscribe if this channel continues to fail to impress.
Meanwhile, allow me to ask whether or not you have subscribed to channels out of curiosity and subsequently unsubscribed due to disappointment.
Warmest regards
desdays 2 years ago
Comment removed
oldtoottoot 2 years ago
I am sure we really care about the opinion of someone who has delusions of grandeur.
oldtoottoot 2 years ago
Yeah, talk about "thin on content." For all the words he posted here, the only real content was "I'm going to unsubscribe." No substantive criticism whatsoever.
foolcow1976 2 years ago 3
That's is exactly what is dumbfounding. He states obvious truth, but mainstream economists, the government and most Americans JUST DON'T GET IT!!
viehe69 2 years ago 2
Residential real estate is the second worst investment out there. Factor in the amount of property taxes, assessment fees, rennovation money, upkeep costs, realtor commission, adjustment for inflation... who cares if you bought at 225,000 and sold for 300,000? You haven't made squat.
If you want an investment, buy a stock.
For the curious, cars are the #1 worst investment.
Dyhalto10 2 years ago 2
Thanks Peter!
GreenrushCapital 2 years ago
rates will not go much lower than they are now
bs2137 2 years ago
Peter
Fix the audio, it is annoying
junkyarddog47 2 years ago
hey Mr. Schiff, excellent sound.
kendjo 2 years ago
This comment has received too many negative votes show
Schiff is a great investor that knows nothing about real estate. If he thinks that we will have major inflation then now is the best time to buy a home. Inflation causes rent and construction costs to go up.
Turbo291 2 years ago
Not necessarily, housing prices may rise with the general inflation, but they probably won't rise as quickly as other prices (as we still have significant overhang capacity), so other investments (such as foreign stocks or commodities) will rise more. Remember: you want the value of your asset to rise MORE than the rate of inflation.
nonantianarchist 2 years ago 3
Hahaha, trying to slip Peter Schiff with a ARM? Is that brocker nuts?Ahaha.
VBioreactorBydlo 2 years ago
FINALLY, Schiffs says something that makes sense!! Houses are NOT investments, they are a home. A place to raise kids, have family meetings, your place. Just like kids, we love them, we protect them BUT they are financial liability!
KiheiLawyer 2 years ago
The kingdoms of men are progressively weaker and weaker and the current world government is the weakest and is very temporal and has been brought about to end the times of men and its history before the return of the Lord and God Jesus Christ. There will be no other kingdom arising from the ruble, these are the last events before the new millinium which will be ruled by Jesus Christ on the earth
Spurgeon123 2 years ago
@Spurgeon 123,
"There will be a new kingdom arising from the ruble" (exact quote)
Great. When can we expect the return of the czars?
nonantianarchist 2 years ago
Peter, You can quit crying wolf, the only people that don't believe what you're saying are the wolves themselves. You're watching a well orchestrated demise of the current free market system which will become an exclusive, nonpublic entity which will claim rights of all resources and labor. You'll see civil wars breaking out around the globe with high civilian casualties, this is the first horseman and then famine and then death and hell encompassing the earth before the Redemption of man
Spurgeon123 2 years ago
I'm not terribly biblical, but...Preach on man!
jawneblaize 2 years ago
Thank you and may the Lord encourage you to keep looking up because mans redemption is drawing near. Its an exciting time to be alive when you see the hand of the Lord moving across the earth and concluding all things pertaining to His church and the affairs of men
Spurgeon123 2 years ago
SCHIFF FOR PRESIDENT!!!! I believe this guy has the intelligence to turn the US around. GO SCHIFF!!!
oldtoottoot 2 years ago 4
ditch the senate
oldtoottoot 2 years ago 2
I may one day buy a house. If I do, I'm definitely getting a fixed-rate loan. Adjustable rate is a ticking time bomb.
nonantianarchist 2 years ago 2
Anti-Schiff blogs tomorrow
"Peter Schiff buys house while talking down housing! Hur dur!!!"
nonantianarchist 2 years ago
Peter, if you can't pay for it in full, you can't afford it. You should never need to borrow money for anything.
Piscivorus 2 years ago
This broker certainly hasn't seen "Peter Schiff was right" video, if he did, then he wouldn't recommend Peter to finance purchase through AR mortgage :)
gtele5hev 2 years ago
Peter:
I hope you are buying a house because you really want to be the Junior Senator from Connecticut!
Without a permanent, respectable residential address in CT, you would be running as a Carpet Bagger. :^)
adamitshelanu 2 years ago
100% of u losers can not afford to buy real estate in USA , never mind foreign real estate
maybe in Afghanistan or Iran u could
tuktukktotam 2 years ago
youtube is working to censor the videos by capping the viewer rate at 302 so that they don't rise up too quickly and become a today favourite or popular... Google's pretty much bought up by the government...
jamiefhr 2 years ago
wow....an hour later....still 302...I've seen that very number for hours on videos before....whereas others rise in view count quickly.
taylor22222222 2 years ago
Take your paranoia elsewhere
ariaane 2 years ago
319 ratings
302 views ??
Kevisky 2 years ago
I suspect ratings are updated in real-time and views in batch mode.
elboertjie 2 years ago 4
When the government takes away the risk of failure, there is no limit to the risks those companies will take.
This is what happens when the government rewards failure.
bedsbronco75 2 years ago
Mr. Schiff: I agree with 95% of what you say and I enjoy your educated analysis. I recently bought Crash proof 2.0 and donated to your campaign even though I live in California. The only thing I beg to differ is, when you say the United States does not make anything anymore. Don't we have Microsoft, Apple, Google and some of the best technology companies in the world . We also have the safest country and the most fair judicial system in the world, and that is why you and I live here, right?
wallstjim 2 years ago
I think he means that these companies are no longer producing their stuff in USA, instead like most of companies they moved their production to China or other asian countries.
ineffige 2 years ago
Sure, Microsoft and Apple are producers and they help the USA economy, but Google is not producing anything. Nobody is buying Google products, but rather, they make money from advertising.
Also, why do you say the USA is the safest country in the world? I can understand that this has been told to you, but I can assure you it is not the safest. See the CIA World Factbook for more information.
elboertjie 2 years ago
A LOT of advertising.....it really defeats the whole "convenience" feature of the new youtube channel video lists by having an ad take up much of the list space.
taylor22222222 2 years ago
It would be nice if someone else can build a new GUI using existing Youtube APIs. This way, we can get the benefit of the content, but not forced to view it in a limited way.
I wish the previous format would return as for one thing it makes viewing playlists much easier.
elboertjie 2 years ago
Google does produce something-they just monetize it through advertising, just like TV programs monetize their products through advertising. Don't get me wrong-I don't like the way Google has managed YT since they took over, I'm just pointing out that they do engage in productive activities for their money.
nonantianarchist 2 years ago
Generating income by selling advertising on Google or television is not monetization, that is simply generating income by selling advertising exposure. Monetization simply means CREATING new currency/dollars.
joesub 2 years ago
Er...monetization can mean different things, depending on the usage. I said that google "monetizes" its traffic by selling advertising space to make money off of a process that wouldn't yield revenue otherwise (ie, letting people use their search engine for free), not to imply that they create new money as in when the federal reserve "monetizes" debt (by printing up new money and buying the debt).
nonantianarchist 2 years ago
See also the Global Peace Index for the last three years. For the USA:
2009: 83rd place
2008: 97th place
2007: 96th place
elboertjie 2 years ago
But our president won the Nobel Peace prize - LOL
aw3212 2 years ago
It must be my conservative nature, but for some reason I bought a brand new home in 2005. I put down 10% and took out a 30 year mortgage and life has never been better.
One bad part;
I know live in a neighborhood full of abandoned houses and green swimming pools. The common thread among the 50% of that still live in the neighborhood. We didn't over spend and didn't take out an ARM.
Despite this in your face fact, they are still trying to get people back into ARMs??? Doomed.
MrQuestionAuthority 2 years ago 2
Mr Schiff
On occasion you read these messages. I would encourage you to look at video (yryqOtofoDM)
Just do a YouTube search on the above.
It is by Warren Pollock. His presentation is very in depth.
Contributed to your run for the senate - hope you get in there and make some changes.
boprn 2 years ago
interesting video. do you think people who own chinese stocks are in danger of those stocks being confiscated?
michaelpshipley1 2 years ago
Not for 3 or 4 years - but yes.
It's worth watching Warren's videos also. Might want to add Karl Denninger also.
boprn 2 years ago
yeah i watch denninger too. he's gold. all these guys should run for office. these are the guys who can fix this,
michaelpshipley1 2 years ago
Awesome video, so basically if we buy a house now we will make money as a debtor because inflation will wipe out our debt is that what he said, woo hoo im getting a house :) no but seriously is that truem Shiff? can you talk more about that
vanityvideo 2 years ago
Great Video!
Pnkbong 2 years ago
Thanks!
hermbilliamherm18 2 years ago
Haa! The broker must not have known Peter. Don't let people trick you out of your money everybody! Just know that's what they are after. You can live without credit cards. I know, I've never had a credit card and might be older than Peter. True too about the cost of owning a home. I feel I'm just paying rent to the gov!, it's too much! taxation=slavery
scolopede 2 years ago 2
The music is playing and they are dancing. Its the only strategy bankers know.
capaneo 2 years ago
Why should there be a real estate agent at all if Peter is buying from his landlord. It sounds like a perfect case of owner for sale. Peter certainly does not need the agent to prepare his papers. His own attorney would do.
focus21x 2 years ago
I wonder what % is Peter's seller paying the real estate agent/broker? Is part of it passed on to him?--one disadvantaged of not paying all cash. And all the interest you have to pay in the first years of the loan?
focus21x 2 years ago
I didn't understand what peter is complaining about here.
If peter is thinking about getting a fixed rate 30 yr mortgage @ a very low rate hoping to benefit by the inflation, Its possible that the mortgage banker also thinks there will be high inflation (and higher LIBOR) in future, so instead of giving a free (after inflation) mortgage to Peter, the guy tried to sell him a ARM so that the interest can be floating. So the mortgage banker is a smart banker right?
vinayakaca 2 years ago
The broker would be smart for short term -- because he would have successfully sold a home which earns him commission, possible bonuses,etc. But long term, say LIBOR shot way up like Peter mentioned, than the bank loses the house and it becomes another foreclosure.
The banks should PREFER the FIXED mortgages even if they are historically low because that is less risk to them.
You'd think with all of the foreclosures banks would of learned their lesson.
lostmatt 2 years ago
I understand your point now. Thanks..
So for a mortgage banker, he is losing in both the cases (Assuming he is actually holding the mortgage and not selling it to someone else) - Fixed mortgage by inflation, floating mortgage by writeoff. So if I was a banker and owned that institution, I wouldn't make ANY loans right now. However in this case, the guy who makes the loan is getting a commission on it, also that loan eventually owned by some poor soul in china / japan (so banker still smart no?
vinayakaca 2 years ago
I wish I could have overheard the conversation between Peter Schiff and that broker. It would have been priceless!
doctorjn 2 years ago 2
Yeah, Peter ought to have gotten his camera out.
Poor guy didn't have a chance.
Wcoltd 2 years ago
Why is an inflationary collapse worse than a deflationary collapse?
Wcoltd 2 years ago
why syphilis is worse than gonorrhea?
pwl1980 2 years ago 2
Because Syphilis is incurable and causes neurosis and even death and gonorrhea is a temporary condition which usually subsides over a few weeks.
AH HA! so you're saying that the host (which i suppose would mean the government) cannot be cured from inflation usually and can only fully get rid of it when it dies.
And deflation is only a temporary which the society can fully recover from.
But we've had deflation AND inflation. So I guess that means the government is a complete whore.
Wcoltd 2 years ago
Well, you have really put a lot thought into this...
I just meant that they are both bad, in other words what do you care what's gonna kill you, train or a bus..
BTW you know a lot about STDs. I had no idea that syphilis was actually worse. I thought they were equally bad.
well, live and learn...
pwl1980 2 years ago
It's worse because it's harder to fix. (especially with a fiat currency like ours, it's like pushing a boulder down a hill)
Deflation is self-perpetuating, but you can print to reflate and hopefully (if you're lucky) stabilize things.
Inflation is self-perpetuating, but in a debt-driven consumer economy, there is no fix once it has started.
It's like the economy's on fire, and we are surrounded by nothing but gasoline. Government's response is "we might as well throw SOMETHING on the fire."
EmptyHouseGuy 2 years ago
In inflationary collapse is worse than a deflationary collapse because it wipes out the only folks who have any savings to fund the restart of a viable economy. On the other hand, a deflationary collapse increases the value of their savings, making it easier for them to fund a restart. The inflationary collapse erases most of the debts of irresponsible spendthrifts, but destroys responsible savers. Most irresponsible spendthrifts will declare bankrupsy anyway, so they're not "forever stuck".
honestann 2 years ago
Well inflationary collapse is worse, because your fiat money is worth less, and things are more expensive. If money is worthless, very likely it won't turn around. Look at Zimbabwe, they dollarized the currency instead of the domestic sovereign currency. Dollarization is most likely to happen with hyperinflation. The market naturally turns to something else that much more value than the failed one. Deflation is really a result of strong currency, and liquidation, and savings which is much better
PontiffMystic 2 years ago
Another great video, Mr. Schiff. God bless you and your dad.
BurkeHamblin 2 years ago 2
Peter its ok! Im sure many of us watching this video are homeowners..Why rent when you can buy. If you put some money down and can live within your means its ok. No ones gona judge you because you need shelter! Now if you start "fliping houses" then your "street cred" needs to be looked at ;)
detroitgreeks 2 years ago
I see a lot of cheap houses in the near future...
ARMs are an old scam put on the people, why would anyone pass up a lock in at 5.¼% thats more then fair.
phantomcharger 2 years ago
I'm sitting here wondering why you would even finance a house. Being in debt is like being a slave - the house belongs to the lender until it is owned outright.
Robert697 2 years ago 3
you have my vote!
motogpslider 2 years ago
That is hilarious, I can't imagine the real estate agent knew who you Peter Schiff is. That has to be the most intimidating sale.
Wcoltd 2 years ago
I know a guy who's suing his realtor, for knowingly selling him an "overpriced" asset. WoW! The guy is facing foreclosure, but he thinks he'll win the suit. What's next, appraisers or mortgage sharks being sued? I think so.
aspenmogul 2 years ago
ISn't it a little funny though that everyone was a "realt estate investor" in 2005. They took whatever loan they could get and could care less about the terms and didnt even want an explanation because they had green eyes! Now 4 years later they own 3 houses worth 50% less and they cry "Realtor fraud Realtor Fraud!"
If you want to play a game with sharks you shoud of at least learned how to swim.
aw3212 2 years ago
I am also considering buying a house this upcoming year, not because I think housing has bottomed or that it will be a great investment, but because I am sick of having to move my stuff around every 1 or 2 years =D
ChristopherWalkenPUA 2 years ago
The greatest regulatory control comes from customers and competition. The bailouts reinforce suicidal sales practices that could not persist under free market discipline.
AristophanesNow 2 years ago 4
The laws of nature tell us that nothing can trickle up, only evaporate.
QWERTY34990 2 years ago 2
Thank you sir, nice video and thoughts.
Mustafoinc 2 years ago
thanks
bowtie728 2 years ago
Follow the Rising Sun Peter. That's the direction you want to go. Good job into not being suckered into a ARM, then again you have a gigantic brain of common sense. I also read some articles that gold is a bubble because demand for jewelry, and manufacturing has declined. Is it a bubble, or is it because gold is real money? I would say obviously money, not because of demand for it in manufacturing, and jewelry. Well that's my thinking about it. What's yours? Clarify, agree? Well good luck.
PontiffMystic 2 years ago
I'd love th be a fly on the wall to watch someone trying to sell Peter Schiff on an adjustable rate. That's rich.
oli1233 2 years ago 6
lol I know that must have been great.
disciple90633 2 years ago 2
1
watch?v=bRwPrLXsRFs
The gold options expire tomorrow, and every month the commercials on the comex, which are jp morgan chase and goldman and HK shanghi bank etc, write the options, and they have to screw the people out of their gains by rigging the market. Theyve had an investigation going on for a year and they still cant find anything wrong w/ the concentration in those markets - 63% in the case of gold (2 commercials), and 3 commercials in silver (around 89% of all the shorts).
PassTheLoot 2 years ago
2
In the gold option market, goldman, morgan, and hsbc are acting of behalf of the us gov. Another reason gold, silver, commodities are down is the us gov is doing a 182 billion financing mon tue wed and dribbles thurs. Once the options close it will turn back up again.
PassTheLoot 2 years ago
Comment removed
chisumo 2 years ago
Comment removed
chisumo 2 years ago
Why was the dollar up today was it short covering
bilpayne 2 years ago
I think Peter should ask the mortgage broker to sell him a swap contract on his mortgage. If the mortgage broker and the bank are so confident, then he should be willing to put some skin in the game to back up his big talk in exchanges for a small fee. I do this all the time at work with salesmen from prospective suppliers to shut them up with their promise everything & deliver nothing sales tactics. If Wall Street is allowed to still play around with derivatives then so should main street.
ocpproduct 2 years ago
Incredible! I can't believe someone would try to fool Peter about the housing economy!
Shaunt1 2 years ago 2
he gets the hottest hookers off of craiglist, cause he has so much money and no one else does.
hatersfate2 2 years ago
Peter, tell us where it would be an ideal place to invest.
225Vikings 2 years ago
225Vikings, Do you think peter Shiff scans these comments so he can answer your question? buy a book or 2 do some homework! or wait for some magic fairy to answer it for you.
YNOT100026 2 years ago
Well actually one time someone posted a falsehood about what he said and he chimed in.
HI PETER!
PassTheLoot 2 years ago
@225Vikings, it's mind boggling that somebody who has money to invest has no clue where to invest. You must have inherited the money.
valhala56 2 years ago
Better to buy before housing and rents inflate.
PassTheLoot 2 years ago
glad the mics fixed there is hope ,
bookbinder66 2 years ago
Peter, why don't you just buy the property/house outright? We pretty much get that your landlord is in trouble, and you were just playing with the broker to get some insight into how Wall Street still works after the bailouts. Why get into the hassle of ANY kind of loan, adjustable OR fixed; just buy the house OUT. Do you really want to be paying all that interest over thirty years?
zeryphex 2 years ago
Don't forget he can also right off the interest in taxes.
cowboy1165 2 years ago
Around here you can buy a house for $8,000.
So would the tax credit pay for the house? Or is there a minumum price on the house?
The county/city may have the house assesed for $90,000 but the asking prices are far, far lower. How does that make sense?
deadman12078 2 years ago
my tokyo real estate provides me $6000 a month profit....then i buy silver or gold or commodities...real estate is an invest too peter
bjmccullough 2 years ago
Pete you are talking to a Salesman not an advisor unfortunately Straight talking mortgage guys dont make as much as those with the big pitch selling gimmicks with no comprehension about the Macro picture, I know I have been a Mortgage Guy for 24 years. and have always gave responsible advice that was best for the client not me.
jonah70757 2 years ago
I'm a mortgage broker Peter and I would never try to sell you an ARM in this market. Call me, I'll do it for a total fee of 1% (including mortgage broker fee, processing fee, whatever) and if I can get it all from the lender in yield spread - even better.
For all you brokers that will say this is not a good deal, I say yeah right, you know you make more than 1% on most deals
: )
aw3212 2 years ago
do you loan on oil proprieties
bilpayne 2 years ago
that is so funny... Mr Banksters says dont worry Mr Schiff rates wont go up... man that is insane.
scanlonized 2 years ago
lol When I bought my first house I got suckered into an ARM. When I was signing the mortgage the closing agent told me that I should refinance as soon as possible. I took his advise and refinanced a year later and locked in my rate. However, now I rent out that home and I'm lucky enough to have a positive cash flow.
You'd have to be a retard to take an ARM today. The Fed will be forced to raise rates when hyperinflation takes off and there'd be no possible way to keep up with rate increases.
JessicaBelle81 2 years ago
Thank you
deadman12078 2 years ago
It will be interesting to see when the majority of Americans wake up to the fact that the US monetary system is fraudulent and the stock market is fraudulent. It's all a big game for the central bankers to rob people of wealth. My dream is for American citizens to abandon the paper money for silver/gold and take away all the central bankers power. That would be heaven. 2012?
helpendthefed 2 years ago
Fed Judge R.D. Drain wiped out a $461,263 mortgage debt on the property. Thats right: the mortgage debt disappeared, via a court order. — I think that I have a more than 50%doubt that if the debtor paid this claim, it would be paying the wrong person, dubious proof of ownership tactics may no longer be accepted practice. They may even be viewed as a fraud. Some judges are starting to scrutinize the rules dont matter methods used by lenders and their lawyers in the recent foreclosure wave.
eyewitness043 2 years ago
This comment has received too many negative votes show
Mr Schiff are you a Zionist? What is your opinion on Israel?
tommy6238 2 years ago
If Schiff was a Zionist he be fucking failure. Go bother Alex Jones.
eyewitness043 2 years ago
That's why I'm asking these questions. I hope he is not a failure.
tommy6238 2 years ago
Hope? What are you some Obama Re-tread? Schiff has been repeating himself for the past three years, where the hell have you been? It's a bit late to be skeptical about Peter Schiff.
Instead of asking question, mabey you should just shut up and listen.
eyewitness043 2 years ago