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Real Estate Guru Sam Zell Tells What He Is Seeing in the Housing and Commercial Property Markets

February 13, 2013 | About:

- Thinks the bullish news on the housing market in the headlines is the media "selling a story." The market is not nearly as strong as it is being portrayed.

- He thinks that getting a mortgage is extraordinarily difficult because banks now have standards that are required to be met.

- Zell thinks everyone is ignoring the fact that there are still 4 million houses in purgatory that are either not for sale, but not foreclosed upon which may or may not be occupied.

- There is no evidence that an improvement in the single family home market is going to hurt the rental market.

- Zell thinks that the desire from our society to own a home has been reduced by the crisis.

- Zell is much more bullish on the apartment market than he is on the single family home market.

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