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Warren Buffett Says U.S. Housing Will Recover by Next Year Fact Or Fiction?

By
Real Estate Broker/Owner with RE/MAX Property Specialists RS294217 / RM423788

Warren Buffett Says U.S. Housing Will Recover by Next Year Fact Or Fiction?

Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that's how long it will take demand for homes to catch up with the supply. 

Within a year or so, residential housing problems should largely be behind us, Buffett wrote Feb. 27 in his annual letter to shareholders of his Berkshire Hathaway Inc. His claim is "Prices will remain far below ‘bubble' levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits."

 

 

 

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Show All Comments
Patrick Schorle
Pacifica Real Estate Inc. - Sidney, BC
Patrick Schorle

Jeff & Heather, I sure hope Mr Buffet is right! However they have been so many "experts" some more famous than others that have predicted a future that is yet to come. One thing is for sure, right now is a good time to buy!

Feb 28, 2011 06:12 AM
Bryan Robertson
Los Altos, CA

He's right because the recovery has already started in many areas of the country.  The media has made sport of reporting as much negative news as possible.  One week housing starts are up and the media reports on foreclosures.  This year will be a great year.

Feb 28, 2011 06:15 AM
Matthew Williams
Elite Realty LTD - Oregon City, OR

He's right and I am seeing evidence of it every day, week and month. I am in the Portland OR area and we like to say "Oregon is first in and last out" of recessions but every inexpensive home I visit or show lately has had multiple interested parties.

Went to a mortgage conference with one of my bankers recently and there was talk of a "seller's market" expected in the not so distant future.

Feb 28, 2011 06:34 AM
Mykael Marinelli
American Caribbean / Christie's International Real Estate - Key Largo, FL
The Florida Keys Real Estate Conchquistador

He's right when speaking about our local market.  I as well, predicted almost 2 yrs ago, to many of my clients that supply would taper considerable by the fall of 2011.  Let's hope it's sooner!  Inventory IS dwindling but prices have not yet gone up.

Feb 28, 2011 07:58 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Our activity is on the up swing. It's confusing because no new jobs have come into our market and hiring is still very quiet !

Mar 01, 2011 10:55 AM
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