Paulson Starts Lot Disposition Program
During the bottom of the housing market, hedge fund magnate John Paulson (who famously shorted the subprime mortgage market earning himself an estimated $4 – 5 billion in the process) amassed approximately 35,000 residential lots throughout the country representing a $770 million bet on the housing recovery. To put that in perspective, Paulson’s land inventory is equivalent to that of the 10th largest US homebuilder. Apparently, the time has now come for Paulson to harvest his investment with the onset of his lot disposition program.
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