What Warren Buffett has to say about Housing:
Interesting Comments in Warren Buffett's stockholders report on housing.
"A housing recovery will probably begin within a year or so. In any event, it is certain to occur at some point," Buffett wrote.
While not mentioned in the letter, he's previously explained his rationale for an impending housing rebound: More than a million households are formed every year, yet current housing starts average less than half that amount. Demand is catching up with supply. Simple.
Another housing story: "Home ownership makes sense for most Americans, particularly at today's lower prices and bargain interest rates," Buffett wrote. "All things considered, the third best investment I ever made was the purchase of my home, though I would have made far more money had I instead rented and used the purchase money to buy stocks. (The two best investments were wedding rings.) For the $31,500 I paid for our house, my family and I gained 52 years of terrific memories with more to come."
I like the wedding ring investment thought! Let’s hope he’s right about a recovery soon!
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