Real Estate ‘A Tremendous Buy’: CEO
Published: Tuesday, 18 Jun 2013 | 1:15 PM ET
By: Bruno J. Navarro | Online Producer
Supply shortages and interest rates will continue to be positive for the real estate market, Colony Capital CEO Tom Barrack said Tuesday.
“Look, it’s a tremendous ‘buy,’ he said. “The good news for the home builders is they start planning profitability five years ago.”
On CNBC’s “Fast Money,” Barrack said that the market was still hot.
“Demand is exponential,” he said. “Affordability at the entry level may get hit a little bit, but traditional rates on 30-year fixed-rate mortgage, which has been the best investment for Americans, has always been in the 6s for the last 10 or 15 years.”
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