In a recent article printed in NewsGenius,WarrenBuffet said this was an excellent time to be buying property. Here is what the article stated:
Warren Buffett, the billionaire investor and Berkshire Hathaway CEO, recently said on CNBC’s “Squawk Box” that he’d “buy up a couple hundred thousand” single-family homes if it was practical.
Buffett said that’s because he believes purchasing a home with ultra-low mortgage rates and holding it for the long-term has become a better investment than stocks right now.
“Housing will come back, you can be sure of that,”Buffett wrote in his annual letter to shareholders recently.
Buffett forecasts an increase in household formations, as more people who moved in with their parents or family members during the recession look to move out and get their own home soon.
“People may postpone hitching up during uncertain times, but eventually hormones take over. And while ‘doubling-up” may be the initial reaction of some during a recession, living with in-laws can quickly lose its allure,” Buffett said.
Buffett said the recovery in the housing market could vary quite a bit among local housing markets, however. He did not provide a timeline of when he expected a full housing recovery.
As you know, the media enjoys writing “doom and gloom.” It’s certainly refreshing to see Positive News nowadays. When I first became a Realtor (20) years ago, I was told real estate usually went in (7) year cycles. Based on that, I’ve been waiting for the end of 2012 and the beginning of 2013 to see an upward trend! What about you? Still sitting on that fence, or have you hopped off and decided to invest in real estate as many others are beginning to do?
IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!
Brought to You By Your Favorite Realtor,