"If you don't own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home."
These are the bullish words uttered earlier this week by John Paulson.
"Who is he" I hear you cry...well, he's the highly controversial multi-billionaire investment genius who became famous in the USA for going "short" on subprime mortgages a few years ago.
He told a standing room only crowd in NY's university club that they are on their way to double digit inflation which will kill the bond market and restore strength to equities, gold and property.
You can read more about his speech in this blog on the Forbes website.
With some great long term mortgage deals on offer I have to say that I think his timing may well prove to be impeccable even if his words may seem a tad provocative given the current market situation.
ps: it was thanks to a tweet from a Chicago based realtor @homepartner that I picked up on Mr Paulson's speech.
www.cognacproperty.com
1 comment:
America is such an extreme country, their property market has been hit quite severely. They say land is one of the few things that there is a limit on, so if you have the money buy. I'm not a huge fan of people owning lots of properties that they let out as I feel it puts prices up for those that struggle to even buy their home.
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