There are "absolutely" bubbles in high-end real estate and in the art world because of the enormous wealth creation driven by easy monetary policies in the U.S. and around the world, billionaire developer Jeff Greene said Thursday.
"There are bubbles and opportunities," he told CNBC's "Squawk Box" in an interview. "Whether they continue depends on what happens with central bank easings."
Greene—who became a billionaire betting against the housing market during the financial crisis—said he's currently shorting the yen and the euro.
But he said he's long the Euro Stoxx 50 index of blue-chip euro zone companies because the European Central Bank's quantitative easing asset purchase program should boost stocks there, as a similar multiyear QE drive by the Federal Reserve, which ended last fall, had pushed U.S. stocks higher.
Even as the Fed indicates that it's prepared to embark on removing more stimulus by possibly raising interest rates this year, Greene said, "I don't see rates going [really] higher for a long time in this country."
"People like me have been just able to accumulate wealth at a pace that's unprecedented in history," he said. "Not only do you have zero interest rates and central banks printing money everywhere, but on top of that we have historically low tax rates."
"There's so much capital that's enriched the super wealthy that the high-end [of real estate] has continued to do well," Greene said—especially in markets like Miami and New York City that are driven by off-shore capital looking for safe havens.
Greene is currently trying to sell one of the most expensive homes in America, called Palazzo di Amore in Beverly Hills, for $195 million. The sprawling 25-acre complex comes with its own vineyard, 53,000 square feet of living space, a 150-car garage and a 15,000 square foot entertainment center with a rotating dance floor.
But in contrast to the strength in luxury, Greene said it's a different story for the overall housing market. "We don't have wage growth in the middle class which is really what's necessary to move prices in the heart of American real estate markets."