Summary
President Donald Trump is criticized by economist Peter Schiff for trying to prevent the U.S. housing market bubble from bursting. Schiff argues that sustaining the bubble could lead to worse economic damage. Trump spoke about his housing policy at the World Economic Forum, emphasizing his support for lower interest rates while avoiding actions that could lower home values.
Key Facts
- President Trump said his goal is to prevent the housing market bubble in the U.S. from bursting.
- Economist Peter Schiff argues that trying to sustain a bubble can cause more damage when it eventually bursts.
- The median home sale price in the U.S. is about $428,000, making homeownership unaffordable for many.
- Trump spoke at the World Economic Forum in Davos, advocating for lower interest rates.
- Schiff has a history of predicting economic events, including the 2008 recession.
- Schiff predicts a potential 20-30% drop in housing prices nationwide.
- Michael Ryan, a finance expert, warned that keeping prices high can lead to a bigger correction.
