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A Onetime Housing Skeptic Plans $1 Billion Bet on Homes

Tue October 04, 2016

A big short is going long on the U.S. housing market.

Donald Mullen Jr., the former Wall Street executive who a decade ago helped oversee Goldman Sachs Group Inc.’s lucrative bet against the U.S. housing market, co-founded real-estate investment firm Pretium Partners LLC, which is raising $1 billion to buy single-family homes to rent out to tenants, according to fundraising documents reviewed by The Wall Street Journal.

Mr. Mullen, the onetime head of Goldman’s mortgage-and-credit business, is now pitching pensions, endowments and other large investors on a wager that, four years after the housing market hit bottom, rents and home prices will continue to rise.

Read more on Wall Street Journal

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