MICHAEL BURRY: THE HOUSING MARKET IS “ARTIFICIAL” - FORECLOSURE FRAUD

MICHAEL BURRY: THE HOUSING MARKET IS “ARTIFICIAL”

MICHAEL BURRY: THE HOUSING MARKET IS “ARTIFICIAL”

Michael Burry, the former head of Scion Capital LLC who predicted the housing market’s plunge, talks with Bloomberg’s Jon Erlichman about his investments in agricultural land, real estate and gold.

Michael Lewis made him famous in his book “The Big Short”.

(This is an excerpt. Source: Bloomberg)

“I believe that agricultural land, productive agricultural land with water on site, will be very valuable in the future. And I’ve put a good amount of money into that. So I’m investing in alternative investments as well as stocks.”

“I think there is some value in real estate. You have to buy it right. It’s not in general, that’s the problem. I think that there are an awful lot of people out there looking to buy these distressed properties out there and so you need to find special situations. That is how I’ve invested from the beginning. I’m looking for these special situations, these unique ideas and that’s true in real estate too.”

“In my situation I’d rather go long on housing itself, real estate itself. Depending on how you structure it, in the real market, in the physical market, you can get some pretty good deals and I’ve done some of that too.”

“Paulson is big in gold and that is something is interesting to me and given how I see the world playing out. Other than that, I’m just saying, other than gold I haven’t really bought into the other…

Source: Bloomberg TV

Photographer: Tony Avelar/Bloomberg

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One Response to “MICHAEL BURRY: THE HOUSING MARKET IS “ARTIFICIAL””

  1. John R says:

    I’m a foreclosure fighter. I have been for 3 years. I recently ran across a paper on what makes almost all of the affidavits and assignments of these mortgages illegal, fraudulant, whatever you want to call it. I can’t attach it to this email but I’ll give you a web address to it. It is very, very informative. As it states at first, the news is being led (by the Banksters)to believe that the only error on the part of the Banksters is having a person with no personal knowledge of the loan (robo-signer) sign these documents. But there are far greater reasons these documents fail in a court of law. I implore whoever’s reading this to please, please check this out, report on it and pass it around. We foreclosure fighters have been pulling out our hair trying to get the Courts Nationwide to understand this. It is titled “Personal Knowledge, Hearsay, Conclusory Averments and the Best Evidence Rule” and written by William A. Roper Jr. and appears within the “Forum” section of the website MSFraud.org. Thanks! John Reed

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