Billionaire investor Sam Zell, sees a U.S. housing market recovery this spring, he said on CNBC on Tuesday.
"I think starts have already pretty much bottomed out," Zell said. "I think the housing market this spring will begin its recovery phase."
Last year Equity Office Properties, a real estate investment trust founded by Zell, was sold to the Blackstone Group for $23 billion in one of the largest-ever leveraged buyouts.
Some previous Zell pronouncements: