Zell predicts housing recovery in spring
Real estate billionaire Sam Zell, chairman of Equity Group Investments, suggested the housing market will begin its recovery this spring.
"I think (housing) starts have already pretty much bottomed out," Zell told CNBC Tuesday. "I think sales will start to occur, and we'll start to clean up the inventory."
Here is a link to the Chicago Trubine article.
For those who don't know. Sam Zell is a billionaire and real estate entrepreneur. He is co-founder and Chairman of Equity Group Investments, a private investment firm and has an estimated net worth of $6 billion dollars. Zell also owns Tribune Company, the publisher of the Los Angeles Times, the Chicago Tribune, New York Newsday and owner of the Chicago Cubs.
"I think (housing) starts have already pretty much bottomed out," Zell told CNBC Tuesday. "I think sales will start to occur, and we'll start to clean up the inventory."
Here is a link to the Chicago Trubine article.
For those who don't know. Sam Zell is a billionaire and real estate entrepreneur. He is co-founder and Chairman of Equity Group Investments, a private investment firm and has an estimated net worth of $6 billion dollars. Zell also owns Tribune Company, the publisher of the Los Angeles Times, the Chicago Tribune, New York Newsday and owner of the Chicago Cubs.
posted by Marc Rasmussen at
8:05 AM
3 Comments:
Zell is as sharp as they come, for sure. As far as his predicting a housing recovery, he mentioned in a speech back in September of 2007 that the credit crisis wasn't that significant. That prediction was not so accurate so we'll have to wait and see how this one turns out.
http://tinyurl.com/2movtr
Interestingly in that article, he mentions that his residential investments are primarily in emerging markets like China, Brazil, Mexico, etc.
ToddinFL
I think March is going to be the start of a great Spring/Summer season for realtors. I see many homeowners getting to take advantage of some bigger homes then they may have qualified for several years ago and I think everyone will look back and be glad they bought a home this year when they find there profit at sale in 10 years far exceeds what was anticipated.
I have high hopes for this Spring and with recent updates on types of loans available and limits raised it is even more so a great time to see if you qualify for a loan.
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