THE ZANY STATE? It wasn’t the kind...
THE ZANY STATE? It wasn’t the kind of news Orange County home builders wanted to hear: Real estate/department store billionaire Sam Zell said at a UC Irvine real estate conference (D5) Wednesday that he never had any desire to buy housing in Southern California. Zell: “I have never been able to justify that housing costs three times as much here as it does in the rest of the country.” The Chicago magnate says that goes for any investment: “Why would anyone voluntarily enter this kind of financial morass?”
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