Peter Schiff

So if they're not here, so you're driving up, well, that's just bullshit, right?

what you said is well they are got 50 million illegals in the united states and they're all being paid not all but a lot of them are on the government subsidies yeah so maybe if you took those away they would go into the construction trades you've got a lot of unemployed people who could build houses yes but they're not going to take those jobs unless you pay them higher wages i mean that's the problem so you're driving up the cost of building homes so fewer homes are being built right regardless of what you think of the immigration policy

No, there are a lot of people that should be working, but the government has given them an alternative.

And that is a huge problem.

That is a whole different topic.

But the point is that

There aren't a lot of homes being constructed and there's not a lot of homes for sale because the people that own the homes, you know, they have such a good deal on their mortgage that they don't... Of course, of course.

And rather than even sell it, you'll rent it out because now you can rent it out and pay the mortgage and collect the rent.

And, you know, you have a good spread there.

Of course, they put it on Airbnb.

But eventually, right?

People have to sell their houses for whatever reason.

People die, people get divorced, people move.

Houses are going to come on the market.

And of course, eventually people are going to lose their jobs.

I mean, we're headed for a very severe recession.

I think we've been in recession for years.

It's just going to get a lot worse.

And a lot of the houses are going to come on the market and real estate prices are going to go down substantially nationwide.

And that creates a whole new problem because now if people lose their home equity, they're