Still, Ross — who made much of his own fortune in real estate development — noted in a recently released interview with Yahoo Finance that a housing downturn could be imminent when asked if we’re getting close to another bubble.
“I mean, I think real estate today is probably in the eighth inning, you know?” said Ross, chairman and founder of the global real estate firm Related Companies.
“We’re certainly not starting something fresh. You know, we’re at a point now where I think there will be a slowdown because it has to happen,” said Ross, who stopped short of saying that there’s a housing bubble.
Ross, who is primarily responsible for the polarizing Hudson Yards development on Manhattan’s West Side, made his comments in a conversation that aired on Yahoo Finance in an episode of “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment.
CLICK HERE TO READ THIS INTERESTING STORY FROM YAHOO: