AUCTION SEARCH
Just type what you are looking for in the box below and find that special auction now!
CURRENT EVENTS
Anderson Auctions Inc.
385 Harbor Blvd.
Suite #102
Destin, FL 32541
Phone: 850.654.5300
Toll Free: 877.654.5300
Anderson Alliance Partners
For all your Real Estate Appraisal
needs contact:
Phone: 850-654-5000
CURRENT EVENTS
Buffett predicts downturn will end in 2011
By Andrew
Frye, Bloomberg News
NEW YORK –
March 2, 2010 – Billionaire investor
Warren Buffett predicted that the real estate market downturn would end by 2011
as the housing inventory declines.
“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote in his annual letter to the shareholders of Berkshire Hathaway, where he is chairman and CEO. “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.”
He also pinpointed what he sees as the cause of the downturn. “People thought it was good news a few years back when housing starts – the supply side of the picture – were running about 2 million annually,” wrote Buffett, “But household formations – the demand side – only amounted to about 1.2 million.”
“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote in his annual letter to the shareholders of Berkshire Hathaway, where he is chairman and CEO. “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.”
He also pinpointed what he sees as the cause of the downturn. “People thought it was good news a few years back when housing starts – the supply side of the picture – were running about 2 million annually,” wrote Buffett, “But household formations – the demand side – only amounted to about 1.2 million.”
385 Harbor Blvd., Suite 102, Destin, FL 32541 • Phone: 850.654.5300 • Toll Free: 877.654.5300
Sold@AndersonRealtyUSA.com
Sold@AndersonRealtyUSA.com