John Paulson Says the Time to Buy a House in the U.S. Is Right Now

The man who made billions betting against the subprime mortgage market seems to have a more positive view of our real estate market these days. John Paulson told a captive audience at the London School of Economics that now is the best time ever to buy a house in the United States.

He's bullish on real estate and gold, and thinks inflation is lurking around the corner. Taking California as an indicator, the hedge fund guru says sunny California has recently been a leading indicator for a positive turn in the housing market.

"And it turned positive seven months ago," Paulson told the group. "I think we're about to turn a corner."