Housing Recovery – Not This Year!
Warren Buffett
Will the housing market recover this year? Yes, if you believe the ‘industry’ line. Then again, according to the “industry,” it’s been a good time to buy,for the last three or four years! With the government’s big homeowner credits, a slight pick-up in the lower end of the market in San Diego ,and historic low interest rates, the end of equity devastation is relegated to bad dream status.
Buffett … U.S. Economy in Shambles
Warren Buffett
During an interview on CNBC Berkshire Hathaway’s chairman and chief executive Warren Buffett said that the U.S. economy is in shambles. Buffett also said he’s sure the actions the government has taken in the past year to help the economy will result in high inflation down the road. Buffett also said that even with all the unprecedented Government spending he saw no bounce in the economy.
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It’s never paid to bet against America
Warren Buffett was interviewed on Dateline NBC last night and described the current state of the economy as an "economic Pearl Harbor" that is not as bad as the Great Depression or World War II, but still is very significant. The Oracle of Omaha said that fear is permeating the American psyche, "which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time." Buffett didn't wish to guess when the crisis would end, but he did leave with one piece of powerful advice: "It's never paid to bet against America…We come through things, but it's not always a smooth ride." San Diego real estate