Buy or sell your home with Kathryn Madison

Warren Buffet’s “Millions of Homes”

Monday, February 27th, 2012

In a live appearance on CNBC’s Squawk Box this morning the “Oracle of Omaha,”  Warren Buffet, shared that he would buy millions of single family homes at this time were it practical for him to do so, as he believes they are an even better long-term investment than stocks.

The colorful Buffet is not afraid to blaze his own financial path, saying “You pay a very high price in the stock market for a cheery consensus.” The same remains true in real estate, where in the height  of the market, many felt comfortable purchasing because so many others were- and when prices were at their highest. While prices are currently at lows not seen since 2003, many buyers are waiting on the sidelines waiting for the reassurance of a “cheery consensus.”

The Case Shiller chart shows an “apples to apples” view of the exact same homes as they were purchased and sold since 1987. Portland, Or is one of the twenty housing markets that Case Schiller follows.

Leave a Reply