You’ve probably heard of Warren Buffett and know him as president Obama’s billionaire oracle. He is also famous for his investment plans, as they all turn out to be very successful in time. For all of you designers and architects out there, here is a good news for the day. According to Buffett, “within a year or so, residential housing problems should largely be behind us.” He also stated that by that time, demand will grow in order to catch up the supply witch means the market will be healthy again.
Buncing back to “normal” will occur slowly but surely. “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.”
What do you think of this statement? Do you believe in the rehabilitation of the housing market? Do you think this is just a phenomenon about to happen in the US or will things go global and resemble a domino effect? -via USA Today
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I’m sure he’s right with this statement, because “within a year OR SO” can also be in 2020 or even in 2050
Oh great! I’ll be left of this because I can’t even come up with the money to start my tuition yet. Anyway, someday I might start.
I’m sorry, but he’s either wrong or lying. I vote for lying because I have the utmost respect for Mr. Buffett’s record and career.
Everyone is talking about the economy rebounding, but all of the problems that were there “before” are still there.
It’s not rebounding yet, and frankly, it might not.
Doesn’t “a year or so” mean a year or less, not a year or a hundred?
The big problem that caused the housing/mortgage crash was greed and a sense of entitlement. As long as those things are still present, and they will never entirely disappear, things will never be rosy.
I think it will get better, but there are a huge number of people that need to realize that having a home of their own may not be attainable. Some people may just need to continue renting. I know that likely sounds incredibly harsh, but it’s the truth, some people don’t have the finances or money sense for home ownership. And there is an entire freaking generation of people out there who need to learn to earn a job, earn a living, earn a raise, earn a promotion, earn respect, earn earn earn. Not be given them because they need more money to buy their too big mcmansion monstrosities, fancy vacations, fancy cars, and not keeping up but rather surpassing the Jones’.