what does holding an economics degree have to do with it?
lucky is a word used by those afraid of hard work, a way to explain circumstances not understood or prepared for, an inability to see cause and effect
Sam Zell: "US won't enter recession; sees housing recovery in Spring"
- Thread starter makloda
- Start date
what does holding an economics degree have to do with it?
lucky is a word used by those afraid of hard work, a way to explain circumstances not understood or prepared for, an inability to see cause and effect
Somehow I doubt that Zell would disagree that he's been lucky. In fact, I would imagine that most billionaires would describe themselves as lucky. But let's face it, you don't make billions by luck alone. Zell is the smart money when it comes to real estate.
By the way, in his interview he said he was not an economist. He holds a law degree from Michigan as far as I know.
OldTrader
EDIT:
By the way, Zell's expertise is apartment and office buildings....not homes. I would assume he expresses his opinion about housing because the media asks for it.
Sam got his break when he impressed Jay Pritzker and JP started financing his purchases. I don't offer that to take anything away from him...most people given a $1 million in buying power wouldn't know what to do with it and would blow it in no time.
Sam gets the concept of "go big or don't go at all" and had enough early success to keep him at the game.
As far as real estate:
Residential - What about up-trending interest rates and the affordability of fully amortized loan payments? Did the supply glut clear and I missed it?
Commercial - What does 35% down do to deal volume? Does 35% down make commercial real estate investing more/less attractive?
Sam gets the concept of "go big or don't go at all" and had enough early success to keep him at the game.
As far as real estate:
Residential - What about up-trending interest rates and the affordability of fully amortized loan payments? Did the supply glut clear and I missed it?
Commercial - What does 35% down do to deal volume? Does 35% down make commercial real estate investing more/less attractive?
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Agree, shop for food Flytiger;
but maybe want to get some class diversification when it comes to food prices .
Bakery surplus has some bread bargains that would get Sam Zells attention. Finest of Whole wheat for less than $1.00/loaf
Eggs $1.00 / dozen in country;
less than that if your pets are hens. Home grown tomatoes are better/cheaper.
Maybe right on milk;
personally don't drink it.
<i>"Bakery surplus has some bread bargains that would get Sam Zells attention. Finest of Whole wheat for less than $1.00/loaf
Eggs $1.00 / dozen in country; less than that if your pets are hens.
Home grown tomatoes are better/cheaper"</i>
Bread deal sounds great... but what if we have to drive one hour to reach the nearest large bakery?
Days of $1 eggs are gone around here. What do you think they feed those chickens now? Priced wheat and corn lately?
Also, it is wintertime in much of the U.S. Layer hens need more than 13 hours of light, and heat. Who's lighting and heating the pet chicken henhouse with electricity? Add that to the cost of eggs.
Homegrown tomatos are unbeatable... for six weeks out of the year in most parts. The other 46 weeks they don't exist.
Zell lives in a very comfy bubble, and has no clue on what he said off the cuff. "Ultra-rich" does not equal "in tune with".
Eggs $1.00 / dozen in country; less than that if your pets are hens.
Home grown tomatoes are better/cheaper"</i>
Bread deal sounds great... but what if we have to drive one hour to reach the nearest large bakery?
Days of $1 eggs are gone around here. What do you think they feed those chickens now? Priced wheat and corn lately?
Also, it is wintertime in much of the U.S. Layer hens need more than 13 hours of light, and heat. Who's lighting and heating the pet chicken henhouse with electricity? Add that to the cost of eggs.
Homegrown tomatos are unbeatable... for six weeks out of the year in most parts. The other 46 weeks they don't exist.
Zell lives in a very comfy bubble, and has no clue on what he said off the cuff. "Ultra-rich" does not equal "in tune with".
Zell is 100% right.
He is a tough guy. He knows he can face anything if it comes down to it. Its the same way I feel.
But the cowardly weak crowd of depressed asses in this country have to drag themselves over hot coals everyday. Doom and Gloom enshrines their whole living existence.
They complain, whine, moan and bitch to the walls. They are the ones who do not have the nerve to face life as it comes.