Saturday, February 11, 2012

Marc Faber : I like Real Estate in the U.S.

Marc Faber : "I like Real Estate in the U.S. , I was in Phoenix the other day and then the taxi driver took me to the hotel a nice hotel Fairmont and he told me you know the person I just drove before you , I drove him to a 5 bedroom house and he told me he just bought it for $120 000 , where in the world can you buy a 5 bedroom house for $120 000 ?! I would buy it live in one bedroom and rent out four bedrooms to concubines "
"let's put it this way , if you take a very bearish view of the world then at least if you own your property you still own it , if you paid for cash and then you get the cash flow as I suggested , and if you are very bullish about the world it means that the demand for real estate will go up , I was 3 days ago in Miami , 3 years ago I counted 47 cranes building high rise , this time around I counted one crane destroying a building , so the market has cleared actually in Miami , a lot of money has come from Latin America from Russia because if you want to open a bank account somewhere there are so many questions but as foreigner you can go and buy a condo , no questions asked ..... " - in Fox Business News
Click here to watch the full Interview>>>>>>>


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