Billionaire Sam Zell Warns Real Estate & Stocks Could Face a Reckoning

Bloomberg TV Markets and Finance  ( Original )
MAY 1, 2018

Zell, on real estate: “There is a tsunami of supply comin’ down the road. If someone on this panel can tell me where the demand is gonna come from to meet that supply, then we got somethin to talk about”

Zell tells Bloomberg TV, "The stock market, despite all of the gyrations, is still at an all-time high. Real estate is priced to perfection", as the S&P 500 SPX, -0.82% stands 8% below its January peak.

“I’m a little bit like that old Wendy’s commercial: ‘Where’s the beef?’ ... I think it’s a very challenging situation, one that requires discipline.”