Warren Buffet, the famed CEO of Berkshire Hathaway, has made a bold prediction about the residential real estate market. In Monday’s Wall Street Journal, Buffet was quoted as saying:
“[Within] a year or so residential housing problems should largely be behind us, the exceptions being only high-value houses and those in certain localities where overbuilding was particularly egregious. 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. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means because the bubble burst.”
Mr. Buffet is known for bucking the conventional wisdom with great success: Anyone who held a $10,000 stake in Berkshire Hathaway at the start of 1965 has about $80 million today. To see the full article, go to:
For up to date info on the local San Jose real estate market (and surrounding areas), simply look at my website http://www.garynobile.com/ or call me at (408) 247-4029.