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Daily Real Estate News  |  May 19, 2009  |   Sam Zell Says Recovery Is in Sight
The U.S. housing market will turn around this summer because the building slowdown is increasing demand, predicts real estate mogul Sam Zell,

"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.”

Source: Reuters News, Ilaina Jonas (05/18/2009)

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