You could bet against Sam Zell… but I’m guessing his track record is a bit better than yours.
“The US economy will avoid recession as the housing market begins to recover this spring, according to billionaire investor Sam Zell.
“Obviously what we have going on is an attempt to create a self-fulfilling prophecy,” said Zell, chairman of Equity Investments Group and owner of the Chicago Cubs, Chicago Tribune, Los Angeles Times and other companies. “We have two Democratic candidates who are vying with each other to describe the economic situation worse.
Zell said that although he doesn’t try to pick bottoms in markets he believes housing has hit its nadir and will turn around this spring as inventory clears out.”
If the Billionaire Bald Boy pontifications weren’t enough to sway you… check out what the Bawldguy has to say: “THE WINDOW [to buy property at a great price] ? SHE IS CLOSING.”
Tell your clients. Make them some money. Pick up a place or two for you while you’re at it.
Real Estate is a perpetual bull market – once in a while the horns may get you, but in the end, the bull just keeps on going.
[...] what Benjamin Bach is saying about the market by looking at this article at Agent Genius, my second [...]
Billionaire Bald Boy — classic.
I think things will start looking better for most everywhere in US also come Spring. I think California, Arizonia, Colorado and Florida might be influenced the July date for the Conforming/Jumbo loans. But by the end of the year I see significant difference in these areas also.
I you have the money and can qualify for a loan buy buy buy! If your an investor the time has arrived.
I just don’t see a spring correction in my market. Way to much inventory and way to many foreclosures with not enough buyers. While all markets are local, I predict a real nationwide recovery by the end of 2008.