Buffett on Real Estate - Market is Sick
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Warren Buffett, considered one of the great financial minds of our generation, has this to say about the real estate market. It is sick. At the annual meeting of Berkshire Hathaway, the Woodstock for Capitalists as it is frequently known as, Buffett was pessimistic on the short term real estate markets.
The combination of easy money and investors not buying for the pleasure of living in the home but for the opportunity to flip it and make extra money has put the housing industry in a poor position that will remain there for a couple of year.
But Buffett had a decidedly different view about the housing market. He said too many homes were bought by people carrying mortgages with little or no money down who then hoped to flip them quickly for a profit. “The housing market is sick and it’s going to stay sick for a couple of years” he opined. via Money on CNN
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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