Peter Schiff Blames Working Married Women for Housing Crisis, Faces Backlash

Famed investor Peter Schiff sparked controversy by suggesting that married women entering the workforce contributed to the current housing crisis. Schiff explained that the rise in mortgage rates in the 1980s, caused by inflation, led to women seeking employment to compensate for reduced real earnings of married men. He clarified that women working did not cause home prices to rise, but rather rising home prices caused women to enter the workforce. The housing affordability crisis today is attributed to surging home prices, low supply, and rising costs of maintenance, insurance, and taxes. Schiff believes these trends will continue until inflation and interest rates stabilize.