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The problem with housing is prices have recovered but demand hasn't: Real estate mogul Sam Zell
U.S. home prices have rebounded from the 2008 housing market crash, but demand is still low due to changes in living and buying habits among millennials, real estate mogul Sam Zell told CNBC Wednesday. "It's interesting that all the statistics recently on housing suggest that demand is down but prices aren't down. That doesn't necessarily make sense," the founder and chairman of the property specialist firm Equity Group Investments said on "Squawk Box." "We're dealing with a changed housing market." Homeownership dropped from an all-time high of nearly 70 percent in 2005 to 63 percent in 2016, according to recent ... (full story)
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