Hedge Fund giant says Euro debt problem contained, urges people to buy houses.

….while I wont pretend to downplay the european debt problem, I’d probably rather have my $ in real estate as its a hard tangible asset and doesn’t disappear over night like a stock fund.

On Monday, Paulson said U.S. house prices could climb 3% to 5% in 2010. Next year, prices could rally 8% to 12%, he added.

Home ownership in the U.S. is the most affordable it’s been in 50 years, Paulson also said. Based on median home prices and the cost of mortgages versus median household income, houses are roughly 60% more affordable than they were at the peak of the housing bubble in 2005, Paulson said.

http://www.marketwatch.com/story/european-debt-crisis-manageable-paulson-says-2010-05-10-144600?dist=afterbell

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