Peter Schiff

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

Now they may just default on their mortgage.

And now in addition to sitting on all these underwater mortgages, banks are going to start to lose money on defaulted mortgages.