Housing Prices To Rise This Year
At least that is what John Paulson is saying. He is the same hedge fund manager who created the CDO’s with Goldman Sachs and bet against them so maybe he has another trick up his sleeve, who knows. What I do know is that homes are affordable and rates are still low so if you plan on staying put for at least 5 years it is a great time to buy.
John Paulson, the hedge-fund manager who made $15 billion shorting the real estate market, said Monday that he expects housing prices to rise between 3 and 5 percent this year and another 8 to 12 percent in 2011.
I hope he is right and he very well could be since prices could possibly be artificially deflated due to the short sales, foreclosures, new appraisal guidelines, property flopping, fraud, etc. Only time will tell but look at a home you are buying as a lifestyle not an investment.