The CIO of a $9 billion real-estate investing firm explains why the US will avoid a 2008-sized crash — and says it's a good time to buy in correction-hit cities like Austin
CIO Jack Macdowell believes that the worst of the housing correction has already happened.Macdowell explains why these types of correction-hit cities now offer intriguing buying opportunities.
"People may be concerned that we're entering into another global financial crisis-type event, where we'll see a ton of distressed inventory on the market putting downward pressure on home values," Macdowell, an industry veteran with over two decades of experience, told Insider in a recent interview."I would argue that I don't think that's the case."
"I would take the view that in the right property markets, this would actually be a pretty good time to buy," he said."On the real estate value side — in certain markets, certain neighborhoods — given the lack of inventory, prices will be well supported from where they are today."
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