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Ear to the Ground

Bill Lurz
Being around as long as I have gives me the benefit of having a vast network of contacts across the housing industry – 30 years worth. I’ve spent a lot of that time with one ear to the ground and a telephone growing out of the other. Now I’ll have the ability to share with you what I hear faster than ever before.

Tuesday, June 24, 2008

Lambert Bullish On Housing Rebound

Jun 24 2008 8:12AM | Permalink | Email this | Comments (1) |
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If you're looking for some good news, try this: in mid-June billionaire hedge fund manager Edward S. Lampert put his money behind his belief that a U.S. housing recovery is in the works. The Wall Street Journal reported that Lampert's ESL Investments, which controls investments valued at about $11.6 billion, has begun picking up shares of the big public home builders and other housing-related companies. ESL now has stakes in Centex ($10.4 million) and KB Home ($10.8 million), and is also testing the waters of mortgage origination and servicing. Lampert also increased ESL's stake in Home Depot to 22.7 million shares, valued at $590 million.
     If the smart money is betting on housing recovery, how long will it be before others follow suit? And if enough people believe recovery is on its way, doesn't it eventually become a self-fulfilling prophesy? 

Reader Comments


at 7/9/2008 2:58:51 PM, DevConJobs.com said:
I'm Kipp Gillian - owner of Gillian Executive Search ( www.gessearch.com ) and www.DevConJobs.com. I'm a recruiter in real estate development and construction management. We work with all the big home builders, apartment developers and mixed-use players. If the single family home market is to return it needs to lead the charge. In california the "home rush" was riddled with defective first time homes, mold and such a lack in architecture that it ruined the land scape. Now many of these areas are plagued with for sale or forclosure signs. The future of housing in the US must be smart development that is eco friendly, demand oriented and as mixed use in plan as possible. I look forward to the return.

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