Paulson Plumps For Housing Recovery

Jan 24 2013 | 9:51am ET

While some hedge fund managers have taken to the Swiss Alps to make their views about the global economy known, John Paulson stuck a little closer to home.

The Paulson & Co. chief spoke on Tuesday at the 92nd Street Y in New York. During a chat with former Treasury Secretary Robert Rubin, Paulson, who has suffered huge losses for the past two years, pronounced himself bullish on the U.S. economy.

Paulson said he is particularly favorable towards housing, the market in which he made his name on the bearish side. But now, Paulson said, it had shown a "strong recovery" with fewer homes on sale that at any point in the past decade.

Affordability "has never been higher," Paulson said, and urged his listeners to mull a purchase.

"This is probably the best time in our lifetime to consider buying a house."

Paulson, a director of the Y, also expressed optimism about the stock market, and guarded optimism about fixed-income.

Rubin was less sanguine, saying he's not especially optimistic and fears political gridlock in Washington and the growing national debt.

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