Tagged : residential land

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(Reuters) - From the outskirts of Las Vegas to the coast of California, stretches of undeveloped land in some of the most depressed housing markets in the U.S. are in high demand.

"We are coming out of the mother of all housing cycles, and residential land is the best way to play the ultimate recovery," said Michael Barr, a Paulson & Co portfolio manager, who oversees the Paulson Real Estate Recovery fund, which has under $500 million in assets for the $19.5 billion hedge fund. "Land is the highest returning component of the home building equation."

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