Real Estate Titan Sam Zell Reveals His Outlook on the Housing Recovery

  on
Real Estate Signs
Private equity firms may look to so-called secondary markets for the best deals.

On CNBC's Squawk Box this morning, real estate billionaire Sam Zell (notably on the board of Equity Residential (NYSE: EQR [FREE Stock Trend Analysis])) spoke on a topic few others can rival him on: the housing market.

Here are some highlights:

  • We have an environment where we think if we cheer loud enough, the market will improve.

  • 3-4 million houses out there are not for sale, are not foreclosed, and possibly un-occupied. These houses need to be dealt with before we have a truly strong housing market.

  • Doesn't think there is evidence to show that if single family housing is improving, that rental housing is declining. We live in a new style of society.

  • Continues to be very bullish on apartments, but not single family homes.

  • It looks like we have 3-4 more years of unscrambling to do in the housing market

 

Copyright Benzinga. All rights reserved.

Join the Discussion
Nintendo's Newest Kirby Game Is A Total Detour
Nintendo's Newest Kirby Game Is A Total Detour
Fitbit's First Activity Watch Falls Short
Fitbit's First Activity Watch Falls Short
Dying Light Is The Spiritual Successor To 'Dead Island'
Dying Light Is The Spiritual Successor To 'Dead Island'
The Last Mitsubishi Evolution
The Last Mitsubishi Evolution
The i8 Is Proof BMW Should Make More Mid-Engined Cars
The i8 Is Proof BMW Should Make More Mid-Engined Cars
QD Vision Shows Off Cheap 4K TVs
QD Vision Shows Off Cheap 4K TVs

More Video