NEW YORK – Renowned investor Marc Faber, whose predictions on the economic crisis earned him the nickname “Dr. Doom,” feels that Florida and other states with distressed real estate will be good places to ride out the continuing recession.
Faber, quoted on CNBC this spring, said:
“In Georgia, in Arizona, in Florida their property values will not collapse much more and will stabilize, so I think to own some land and some property, not necessarily in the financial centers but in the secondary cities, these are desirable investments relatively speaking,” Faber said.
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