Do you know about - Peter Schiff - Austrian Scholars Conference Part 3 of 8
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Peter Schiff - Austrian Scholars Conference Part 3 of 8 Tube. Duration : 9.85 Mins.We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Mortgage Interest Rates Today . For the latest Peter Schiff, go to PeterSchiffBlog.com People believed that they could buy a house and earn million over the next ten years. It didn't matter that people couldn't afford the mortgage, the house would take care of it. You didn't even have to sell a house, because the value kept going up. You could just keep refinancing your loan. The prices had nothing to do with the rent. The price of a house could go up by a million dollars, but the monthly rent might only go up by 0. The renters were getting a good deal. They got all the benefits of home ownership without any of the headaches. The old American dream was that anyone could work hard to get ahead. The new American dream became to own a house so that you didn't have to work. Fannie and Freddie were going to have to go bankrupt. They were guaranteeing about 50% of the mortgages. The reason that it was so easy to buy these houses were Fannie and Freddie and the security products. The government was essentially cosigning everyone on their mortgages. There was demand for these structured products because everyone was looking for yield. The Fed had interest rates so low that no one could find any good yield anywhere.
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