Last month, we reported that billionaire John Paulson believes in the financial advantages of homeownership. He has often repeated:
"I think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you're the owner-occupier of.”
However, he has not been the only billionaire to give such advice. As a matter of fact, that same advice has been given by people of wealth throughout the history of our nation.
Here is a quote often attributed to Theodore Roosevelt, 26th President of the United States and billionaire real estate developer:
Andrew Carnegie, one of the richest entrepreneurs in American history said:
“Every person who invests in well-selected real estate … adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.”
“90% of all millionaires became so through owning real estate.”