Sam Zell Predicts Recovery Is in Sight

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Real estate mogul Sam Zell believes that the decrease in real estate inventory and building slowdown will soon increase demand.

He predicts that the U.S. housing market will turn around this summer because the building slowdown is increasing demand. "I can't tell you if it's June 29 or Aug. 1," says Zell, who made billions in commercial real estate by buying up distressed property.

Zell said the housing downturn is international, but “the U.S. will recover and recover first around the world because we have a culture and we have an environment where we face up to reality quickly and effectively.”

If Zell's predictions are accurate, this may be the best time buy ever! For those of you that have been waiting to buy, you might want to start making a move soon!

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