On Thursday afternoon real estate investor Sam Zell appeared on CNBC to discuss the economy. He stated that the current presidental administration is anti-business. Zell said that the business community has been made out to be the bad guy and that the economy will not recovery until the business community buys into the recovery.
Zell stated that he was donating money to Mitt Romney for his election campaign. He stated that Romney would be a very good chief executive.
When asked about a Romney-election rally, Zell said it was a possibility.
On the global economy, Zell stated that he thought that the entire economy was slowing.
Finally, in terms of real estate, Zell stated that the office market was not strong, and there was very little robust growth across the country. He stated that the single family housing market was different from the rest of the real estate market and that housing units were probably oversupplied.
Zell stated that four or five million houses were in "purgatory" because the government did not solve the problem. Zell stated that he believed the supply-demand situation was getting better, but confidence and the ability to qualify loans continued to remain weak.
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Tags: Sam Zell
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