Sam Zell, Chairman of  real estate giant Equity International, and Equity LifeStyles, which owns/has an interest in 380 manufactured housing and recreational vehicle communities in North America, noting corporations that have missed their expected goals were low on the revenue side, which means the demand is not there for their product, says, “When you got a demand issue it’s hard to imagine the stock market at an all-time high.”

In a segment on CNBC, as reported by businessinsider.com, Zell admits to cautiously waiting for the stock market to plunge: “I don’t remember any time in my career where there have been as many wild cards floating out there that have the potential to be very significant and alter people’s thinking.”

ELS’ Chairman says the government decries the growing disparity in income in the country, but at the same time keeps the interest rates low, which benefit the wealthy but not the non-wealthy.

As MHProNews  readers know, the stock market has been one of the better investments in recent years, so people have been flowing to it. Billionaire investors George Soros, Stan Druckenmiller and Carl Icahn have all issued ominous warnings to varying degrees about the equity markets. ##

(Photo credit: wikipedia.org–New York Stock Exchange)

 

(Editor’s Note: Sam Zell’s comments on market, investing, MHC and MH issues are covered in depth in our two part authorized exclusive, at this link here.)