Real Housewives star's shock Aussie bombshell
Real estate playboy and reality TV star Mauricio Umansky predicts housing will become affordable again in as little as six months.
Speaking on the sidelines of the Australasian Real Estate Conference (AREC) on the Gold Coast, the founder of US real estate brokerage, The Agency, made the bold prediction about the future of the embattled sector.
'You need to have some pain in the economies for (costs) to go down,' Mr Umansky said. 'Interest rates need to drop. We're in a complicated time because of the infusion of money that was put into the economy during Covid.
'Once we recover from that, we'll see transactions and affordability start happening. I predict that will start happening as early as six months to as late as 18 months from now.'
The Real Housewives of Beverly Hills and Buying Beverly Hills star was mobbed by fans during his brief visit Downunder, a week after being photographed having a night out with a mystery blonde in Los Angeles.
'It's been fun,' he said. 'I've been mobbed a little bit, but I'm okay!'
Mr Umansky's personal life has become the subject of attention since his split with wife and RHOBT star Kyle Richards.
Swimming golden girls spill secrets to success
He admitted to having planned to bring a special someone with him during his visit to Queensland, but a last minute invitation to a wedding in Monaco cut his stay short.
While he admits being a Netflix star has helped build his brand and generate more awareness about The Agency, it has come with sacrifices.
'I used reality television to build The Agency,' he said. 'The sacrifice of being on reality television is great.
'If you asked me today, if I would do that again, I dont know. It's an amazing marketing tool, but the sacrifice is your life becomes so public.
'People think they know you because of an hour on television. They don't know you, but they think they know you. It's an invasion of privacy — it's very difficult.'
But the luxury property mogul, who famously sold the Playboy Mansion, hasn't written off the possibility of a Buying Beverly Hills spin-off in Australia.
'You never know! I've already put myself out there, so I'll do Buying Sydney, I'll do buying Australia, I'll do it all.'
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