Peter Schiff was right about the 2008 housing market crash. Now he’s predicting the next crisis. Are you prepared?
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Economist Peter Schiff is predicting another housing crisis in the US, citing high housing prices and rising mortgage rates. He warns that homeowners may default on their mortgages and mail back their keys if prices adjust suddenly.
Economist Peter Schiff, known for predicting the 2008 housing crash, is warning of another potential crisis in the US housing market. Schiff argues that artificially low interest rates led to high housing prices, which will eventually fall as mortgage rates rise. The average 30-year fixed mortgage rate has risen from 2.65% in January 2021 to around 6.3% in April 2026. Despite higher borrowing costs, housing prices remain high, with the median new home price above $400,000. Schiff predicts a wave of defaults and homeowners walking away from their mortgages if prices adjust suddenly. Tighter lending standards and supply constraints may mitigate the crisis, but the risk remains.
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