Bloomberg News reports that John Paulson earned the title of a billionaire after $25 billion of mortgage securities was short by his hedge fund at the dawn of the financial meltdown. This time he is summing up yet another frothy housing market just 15 years later. The founder of Paulson & Co believes that it is quite likely that there might be another downturn in the United States housing market which might be impending. However, he also said that the banking system is enjoying a much better condition this time. While sitting down with Bloomberg for a wide array of interviews on Tuesday for the Union League of Philadelphia’s Business Leadership Forum, he was found discussing how the Greatest Trade Ever, which was called so, influenced his investments later and also why the price of gold has been dropping. While sitting down for a discussion with Bloomberg, he spoke on several issues. For instance, he said that the housing market, the banking system, and the financial market are not quite what they used to be way back in ’06 and ’07. He also said that the underlying quality of the mortgages we see today is higher. There are no subprime mortgages these days in the market. Almost everyone has a high FICO score and an average of almost 760. During the time of subprime, the scores averaged between 580 and 620, which did not require any down payment. While talking to Bloomberg News about short selling, he also said that if an individual wishes to short a stock, he must get someone who will buy the same at a higher price. After that, when the price plunges, the profits pour in. Further Reading \t Grammy Winner Coolio, Best Known as ‘Gangsta’s Paradise’ Rapper, Died at 59 \t What Monopoly Markets Are And 5 of The Most Prominent Types of It \t How to Balance Climate Change and Business Growth?