Peter Schiff vs Beverly Hills Realtor Smackdown Jan 1st, 2008

Just to bring an air of levity to our sometimes acrimonious debates, here’s Peter Schiff squaring off against a Beverly Hills Realtor on News Year’s Day, 2008. She of course said it was a FANTASTIC time to buy a property.

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patriotz
9 years ago

@patriotz:

Those numbers should have another zero for the US. Or use them as an example for Canada.

patriotz
9 years ago

@Renting:

According to the Calculated Risk graph the US mortgage debt increased by about 100% over a 9 year period. The report today says Canada’s mortgage debt increased by 195% over a 15 year period.

The US graph is total consumer debt, not just mortgage debt. Almost all the increase in consumer debt in both the US and Canada has been mortgage debt.That means that the increases in total consumer debt and mortgage debt have been much closer between the two countries.

What I'm saying is that if non-mortgage debt in the US started off at, say, $250 bil, and mortgage debt started off at $250 bil, and mortgage debt has tripled to $750 bil, total debt has doubled from $500 bil to $1 trillion.

Down Payment Only
Down Payment Only
9 years ago

@NoLympics:

THIS IS FOR THE DOWN PAYMENT ONLY TO BE DEDUCTED FROM THE SALE PRICE OF $229,000.00

just a comment
just a comment
9 years ago

VREA,

Schiffs forecast are long term he bets on investments for 5-10 years he's said, and he's not in and out of markets for quick profits.

Also he's also said he doesn't short stocks, I guess because that doesn't fit into his investment mentality, as shorting is usually a short term play.

Renting
Renting
9 years ago

@vreaa:

Look for the links to the ‘Track record’ or ‘Returns’ pages…

Schiff is not running mutual funds. He is a broker. There are no returns to post. Each client has a different portfolio.

SquareNinja
SquareNinja
9 years ago

@NO – LYMPICS: Does that chunky bitch come with the property?

vreaa
9 years ago

Renting; Nomocracies: Re Schiff: Don't get me wrong -> I'm as big a Schiff fan as the next guy, and I've watched some of those bear call videos of his more than once. But we're talking here about investment returns, and the plain truth is that, despite Schiff making some great public calls about certain markets (RE most obviously), his actual actions (his investment portfolios) have not done anything like as well as you would imagine. Yes, he's been bullish on the PMs, but his portfolios aren't 100% PMs. He's made bad specific stock and currency plays along the way. Here's a little exercise for you: Go to the Euro Pacific Website: http://www.europac.net/ Look for the links to the 'Track record' or 'Returns' pages… . . . Can't find them? Neither could I! (perhaps I missed them… if so, let… Read more »

realpaul
realpaul
9 years ago

#67 NO…so like $1700 ++ p/m for a condo I can rent for $50 bucks a day short term and walk away when I'd finished trashing the place after a drug fuelled puke binge of mescalin and mescal? Only an idiot would pay $230K for what amounts to an albatross in a Mexican shitholio. Its not like the locals won't steal your furniture every time you leave the country. Doesn't this happen like….all the time? I think Gartho the magnificent has touched on the zeitgeist of the real estate market in his blog today. Nobody thats selling is willing to admit that they are desperate to get out….neither are the pimps and porn stars of the comic book enterprise that cheerleads the RE industry with a continual parade of obscene fantasy. "But let’s try to bury that thought for a… Read more »

No More Gordocracies
No More Gordocracies
9 years ago
painted turtle
painted turtle
9 years ago

Lam Yuet-fung expected 1,000 people a day to visit his booth at a five-day convention in Shenzhen starting Oct. 1 to inquire about buying homes in neighboring Hong Kong. By day four, more than 10,000 had stopped by. “The reaction has never been as good,” said Lam, who credits the interest to the Shenzhen government’s Sept. 30 announcement that it is restricting home purchases by most local residents to two units. Lam, the regional project associate director at Hong Kong-based Centaline Property Agency Ltd., said almost half of the visitors made appointments to look at properties in Hong Kong, or left contact details. China’s effort to prevent a housing bubble in cities such as Shenzhen, the country’s first special economic zone, is hampering Hong Kong’s own battle to curb a 50 percent surge in home prices since early 2009. Chinese… Read more »

auric goldfinger and
auric goldfinger and
9 years ago

Precious metals????…..bwahahahaha

You'll see the SELL orders flood the market….greed is NOT good….

They'll be so much flooding the market at once the prices will hit historic lows.

NO - LYMPICS
NO - LYMPICS
9 years ago

On E-Bay

OCEANFRONT MAZATLAN 100 % OWNER FINANCING NO RESERVE

NEW 2 BEDROOM FURNISHED CONDO-ON OCEAN- FULL OWNERSHIP

Item condition: —

Time left: 22d 22h (Dec 01, 201022:41:24 EST)

Price: US $1.00

http://cgi.ebay.ca/OCEANFRONT-MAZATLAN-100-OWNER-

Renting
Renting
9 years ago

despite publicly calling the housing market spot on, Schiff was not able to capitalize on it well

Yes everything was down in 2008 except the US dollar. That was the collapse. How have things done since? US dollar down, US real estate down, gold up, commodities up, oil up. Obviously the article was not balanced. Schiff has the long term trends correct and got it right if you stuck with it. 2008 was a bump along the road.

No More Gordocracies
No More Gordocracies
9 years ago

Peter Schiff was one of the people who convinced me to buy silver not too many years ago. Man am I stupid……silver just hit 28.00/oz tonight. I bought to much. My bank is complaining that their interest rates can't keep up to the 5% PER DAY I'm making.

No More Gordocracies
No More Gordocracies
9 years ago

@buffates:

Would you be-head this? Even if she comes across as a frustrated porn star? BTW I'm from Beverly Hills originally. Too much makeup on her. By the time this is done I hope she is sleeping on a park bench

But check out these ridiculously low prices compared to Vancouver
http://conniedegroot.com/listings.htm

vreaa
9 years ago

@abolish cmhc: @oneangryslav2: Are you kidding me? Schiff called the top in the US equity markets, urged readers and clients to get into precious metals and was laughed off CNBC in 2007 for doing so, now he is considered and expert on CNBC – who is laughing now? He is definitely one of the best but not perfect.

—-
oneangryslav is correct: despite publicly calling the housing market spot on, Schiff was not able to capitalize on it well (check out his funds’ performances); partly because he tried to play his predictions indirectly. He did not anticipate the 2008 USD rally, amongst other things.
His clients reported being down 40-70% in 2008.
See here:
http://seekingalpha.com/article/116694-peter-schiff-s-euro-pacific-capital-down-40-70-in-2008

Renting
Renting
9 years ago

Are you kidding me? Schiff called the top in the US equity markets, urged readers and clients to get into precious metals

Correct, Schiff has pretty much nailed it. If you lived in the US, sold your house when he told you to and followed his investment advice you did very well over the past few years. Just look at his videos from 2007 and do the same here right now and it should work out just as well.

Renting
Renting
9 years ago

Take a good look at that graph. Yet more evidence that the only difference between the US and Canada is that we are simply behind the curve. According to the Calculated Risk graph the US mortgage debt increased by about 100% over a 9 year period. The report today says Canada’s mortgage debt increased by 195% over a 15 year period. The Calculated Risk graph shows the US mortgage debt peaking at 9 trillion. Canada is at 1 trillion now at 1/10th the population. Factor in the US mortgage debt interest is tax deductible and Canada is not. Factor in the US has 30 year term mortgages with fixed rates and Canada has floating rates and mortgages that will reset in 5 years or less at likely much higher levels. Supposedly we are more conservative with debt and have tighter… Read more »

paulbsucksgasbags
paulbsucksgasbags
9 years ago

PaulB

What do YOU make of this market?

Phillip
Phillip
9 years ago

house prices, the only chart you need to know

https://sites.google.com/site/canadianhousingdemo

Anonymous
Anonymous
9 years ago

@VHB: any projections for this month? what are the historical sales levels for November?

abolish cmhc
abolish cmhc
9 years ago

@oneangryslav2: Are you kidding me? Schiff called the top in the US equity markets, urged readers and clients to get into precious metals and was laughed off CNBC in 2007 for doing so, now he is considered and expert on CNBC – who is laughing now? He is definitely one of the best but not perfect.

VHB
VHB
9 years ago

@FlipFlop: maybe there was only one guy. Wouldn't surprise me.

paulb.
paulb.
9 years ago

New Listings 182

Price Changes 133

Sold Listings 118