A couple of interesting stories today from the real estate world.
Citizens insurance is planning on dropping customers that have Chinese drywall. Some of the Chinese drywall has high levels of sulfur which off gas and corrode wiring in homes. Florida seems to have more than its fair share of the stuff but it’s been used in other areas in newer construction. Read the article about Chinese Drywall.
John Paulson, a billionaire wall street trader, made much of his fortune and his claim to fame by shorting the housing market. Shorting means to bet against and he went big on his bet and made millions if not billions of dollars. So when Paulson recently spoke in NYC he gave a very bullish stance on buying real estate now. Many people are taking note that we are near or at the bottom of the market. Read about John Paulson saying to Buy Now!