Mr Buffet Says Housing Market Has Stability in California!

The following is an excerpt from an article by Scott Patterson and Alistair Barr of The Wall Street Journal on-line, Tuesday, May 5, 2009.

 

Here are some highlights of Warren Buffett's and Charles Munger's remarks at the Berkshire Hathaway Inc. shareholder meeting this past weekend.

 

Mr. Buffett on Housing

 

"In the last few months you've seen a real pickup in activity although at much lower prices," Mr. Buffett said, citing data from Berkshire's real-estate brokerage business, HomeServices of America Inc., which is one of the largest in the U.S.

In California, medium and lower-price homes -- under $750,000 -- have been selling more, though there hasn't been a bounce back in sale prices, Mr. Buffett said. "We see something close to stability at these much-reduced prices in the medium to lower part of the market."

 

To read the entire article please click on the link below.   Sounds like good news to me!

http://finance.yahoo.com/insurance/article/107029/Business-Musings-From-Woodstock-for-Capitalists

Best regards,

Chun Liu
Your real estate consultant for life!
Team WOWWHEE.com
Keller Williams Coastal Properties
realtoromy@aol.com
www.WOWWHEE.com
562-961-1409
Please refer me to anyone you know that needs real estate!

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