Warren Buffett: “Housing In a Depression..I Was Dead Wrong About Recovery”
Housing in ‘Depression’
Warren Buffett owns many real estate related companies and has a leading edge perspective on the housing market. In a recent interview the World’s Richest Man had a few very poignant comments about our industry…
Warren Buffett says America’s housing sector “remains in a depression of its own” but will eventually recover as America continues to create “more households than housing units.”
In the meantime, however, Buffett writes that the company’s housing-related units continue to “sputter.”
He admits that his prediction a year ago that housing’s recovery would probably begin within “a year or so” was “dead wrong.”
Buffett writes that the housing market’s continued weakness is “the major reason a recovery in employment has so severely lagged the steady and substantial comeback we have seen in almost all other sectors of our economy.”
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