Buffet: Housing market has a ways to go
Warren Buffet, chairman and CEO of Berkshire Hathaway Inc., said the housing market has made progress, but still has a ways to go. Per Bloomberg:
"It’s coming back," Buffett, said. "Pricing is better in almost all markets by a reasonable percentage from a few years ago. Housing starts are up somewhat. They still are not where I would regard as an equilibrium point, where they match household formation.”
Buffett has been predicting a real estate revival for years and positioning his company to benefit from it. He said in early 2010 that the turnaround would probably begin “within a year or so.” While that call proved wrong, he has since reiterated that the industry would rebound because of increasing population and limited supply.