Equity Lifestyle Properties (ELS) Chairman, Sam Zell, sounds warnings about public policies that may have the effect of boosting the manufactured home industry, but which poses serious risks to the U.S. economy.
PRLog - Nov. 4, 2013 - LAKELAND, Fla. -- At the recent National Communities Council (NCC) Fall Leadership Forum, real estate/investment magnate Sam Zell, Chairman of Equity Lifestyle Properties (ELS) asserted that, “Our way of life is very much threatened.”
The report comes from the manufactured housing industry's number one trade publication, MHProNews.com. The news story states the quotes were confirmed by a top source at ELS. Mr. Zell's statement was made as part of a longer “Conversation with the Industry” at the W Center in Chicago, IL, during a recent Manufactured Housing Institute (MHI) NCC sponsored event.
Mr. Zell was the featured speaker at the event, which drew investors and manufactured home community industry professionals from across the U.S..
A summary of Zell's accomplishments, explaination of how and why he entered the manufactured home land lease community arena, as well as the context of his politically-and-economically charged comments are found at:
http://www.MHProNews.com/home/featured-articles/november-2013/138-general-manufactured-housing-industry-topics/6533-sam-zell-says-our-way-of-life-is-very-much-threatened
Zell stated that “The demise of Fannie Mae was politically driven.” He also criticized current Federal Reserve policy of quantitative easing, warning that public policy in Washington, DC is putting the U.S. Dollar as the reserve currency of the world at risk.
That possible loss of reserve currency status, Zell stated, “...will be a catastrophe. There will be a material reduction in our standard of living."
While Zell joked that the loss of the dollar's status as the international reserve currency may be good for the affordable manufactured housing sector, he also seriously stressed the risks for the U.S. if current federal economic and political policies are not changed.
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Real Estate Tycoon Sam Zell claims “Our Way of Life is Very Much Threatened.”
November 04, 2013 at 18:28 PM EST
