March 1, 2010

OR YOU COULD PASS AMNESTY...:

Buffett Says U.S. Housing Will Recover by 2011 on Lower Supply (Andrew Frye, 3/01/10, Bloomberg)

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. [...]

Buffett joked that curbing home construction was the best of three ways to reduce supply. The other two, he said, would be to explode homes in a “tactic similar to the destruction of autos that occurred with the ‘cash-for-clunkers’ program” or “speed up householder formations by, say, encouraging teenagers to cohabitate, a program not likely to suffer from a lack of volunteers.”


...and then supply is already below what's needed.

Posted by Orrin Judd at March 1, 2010 6:58 AM
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