Downtown L.A. Recovering Says Zell?

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Sam Zell, the real estate tycoon who bought the Los Angeles Times and sees downtown L.A. as his new pet project has publicly stated that he expects the real estate market to be in recovery next year.

This prediction goes against every sentiment posed by Wall Street analysts, bank economists and sidewalk philosophers! But Mr. Zell made his billions in real estate, so what do we know?

Date: Thursday, February, 28th 2008 @ 12:34:34 AM
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purplehaze

I don't believe it. He's just blowing smoke so that he would benefit from the resulting optimism.

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