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High-profile money manager John Paulson said with low interest rates and cheap housing prices, buying a house is the best investment. He recommends purchasing a primary residence and living there rather than renting it out, according to the Wall Street Journal.
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Paulson was famous for betting against sub-prime mortgages on the eve of the financial crisis. Since the crisis, prices of homes are still low as are interest rates. He said, “You can get a 30 year mortgage somewhere around 4.5%. And if you put down, say 10% and a house is up 5%, which is the latest data, then you would be up 50% of your investment.”
