[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2mpvkr79kug1t":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},550,"billionaire-buy-a-home-and-if-you-can-buy-a-second-home","Billionaire: Buy a Home… And if You Can, Buy a Second Home!","\u003Cstrong>Three years ago\u003C\u002Fstrong>, John Paulson gave a keynote address at the CNBC\u002FInstitutional Investor Conference. In his speech, he told those in attendance that he believes housing will continue its strong recovery for the next 4 to 7 years, saying that:\r\n\r\n","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2016\u002F05\u002F01161446\u002FSTM.jpg","\u003Cstrong>Three years ago\u003C\u002Fstrong>, John Paulson gave a keynote address at the CNBC\u002FInstitutional Investor Conference. In his speech, he told those in attendance that he believes housing will continue its strong recovery for the next 4 to 7 years, saying that:\r\n\r\n\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>\"The housing market has bottomed. It's not too late to get involved. I still think buying a home is the best investment any individual can make. Affordability is still at an all-time high.\"\u003C\u002Fem>\u003C\u002Fblockquote>\r\nWhen asked how the average person could take advantage of the current real estate market at the time, Paulson said:\r\n\u003Cblockquote>\u003Cem>“Buy a home and, if you can, buy a second home.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Cstrong>Two years ago\u003C\u002Fstrong>, Paulson reiterated his statement, saying:\r\n\u003Cblockquote>\u003Cem>\"I still think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you're the owner-occupier of.\"\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Who is John Paulson and why should you listen to him?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nPaulson is the person who, back in 2005 & 2006, made a fortune betting that the subprime mortgage mess would cause the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell.\r\n\u003Ch4>\u003Cstrong>What do others think of Paulson?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAccording to \u003Cem>Forbes\u003C\u002Fem>, John Paulson is:\r\n\u003Cblockquote>\u003Cem>“A multibillionaire hedge fund operator and the investment genius.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nAccording to the \u003Cem>Wall Street Journal\u003C\u002Fem>, Paulson is:\r\n\u003Cblockquote>\u003Cem>“A hedge fund tycoon who made his name, and a fortune, betting against subprime mortgages when no one else even knew what they were.”\u003C\u002Fem>\u003Cstrong> \u003C\u002Fstrong>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>So… Is what he said still true?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe core reasons behind Paulson’s statements still ring true today, but \u003Cem>why\u003C\u002Fem> does he believe homeownership is such a great investment?\r\n\r\nPaulson broke down the math of homeownership as an investment:\r\n\r\n1.\u003Cem> \"Today financing costs are extraordinarily low.”\u003C\u002Fem>\r\n\r\nThe latest numbers from \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002F\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa> show us that you can still get a 30-year mortgage at historically low rates of under 4%.\r\n\r\n2.\u003Cem> “And if you put down, let's say, 10 percent and the house is up 5 percent,”\u003C\u002Fem> as many experts predict, \u003Cem>“then you would be up 50 percent on your investment.\"\u003C\u002Fem>\r\n\r\nHow many are seeing a 50% return on a cash investment right now?\r\n\r\nPaulson goes on to compare the long term financial benefits of owning versus renting:\r\n\r\n3.\u003Cem> “And you’ve locked in the cost over the next 30 years. And today the cost of owning is somewhat less than the cost of renting. And if you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed.”\u003C\u002Fem>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWhenever a billionaire gives investment advice, people usually clamor to hear it. This billionaire gave simple advice – \u003Cem>if you don’t yet live in your own home, go buy one.\u003C\u002Fem>","\r\nWhenever a billionaire gives investment advice, people usually clamor to hear it. 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