Peter Schiff says homes are 'a money pit’ which ‘depletes' your wealth. Is it still ‘crazy’ to invest in real estate?

Peter Schiff says homes are 'a money pit’ which ‘depletes' your wealth. Is it still ‘crazy’ to invest in real estate? Jing Pan Tue, August 18, 2026 at 7:15 AM EDT 6 min read The Iced Coffee Hour/Youtube Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Buying a home has long been one of the primary ways Americans build wealth, but owning a home also comes with a long list of expenses that don't show up in the purchase price. Economist Peter Schiff argues those costs can make a house a much worse investment than many people assume. During an appearance on Graham Stephan and Jack Selby's The Iced Coffee Hour Podcast, Schiff was asked about the common belief that, for many, a house represents their primary means of saving (1). Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one JPMorgan sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Get your free guide from Priority Gold The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes Schiff, who runs Euro Pacific Capital, strongly disagrees with this perspective. "A house depletes your savings. It's a money pit," he said. "It's crazy the amount of money that a house costs you." While this may sound like it goes against the widely accepted belief th…