Billionaire and hedge fund operator John Paulson, famous for making a fortune by betting on shaky real estate investments, gave a speech at New York's University Club last week.
Amongst the investment advice he gave was "This is the best time in 50 years to buy homes," Paulson advised his listeners crowded into three rooms, "to issue 30 year mortgages to buy a home as your debt and interest payments get locked in at record lows, while the price of your home will rise."
"If you don't own a home buy one," Paulson recommended;" 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."
Well, strong words of advice from someone that has nothing to gain or lose by giving us his honest opinion....gotta go, time to buy a house!!!
Oct 26, 2010
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