“America’s Housing Market is FROZEN” Economist Peter Schiff Warns This is Worse Than 2008

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Comment: My friend’s family keeps repeatedly buying and flipping houses as means of supplementing their income. As a result of such speculation, prices of houses keep growing. It seems that this cannot last forever. It has to end because people will not be able to afford buying houses and people who already own houses will not be able to sell them. And yet, it continues and it destroys our standard of living, our economy, and the future of our children. Why? Politicians should also remember that an increased number of people living in rental units equals increased number of unhappy voters. Yet, we see more and more cases of abolished rent control, rent increases above guideline, and biased Landlord and Tenant Board Tribunal’s procedures which, in my opinion, can only mean that landlords have found their way to the coffers of political parties and pockets of political leaders. It is called corruption. This needs to be reversed as soon as possible.

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