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Here are a few Buffett quotes from his CNBC interview where he talked about residential housing.......
ReplyDelete“If I had a way of buying a couple hundred thousand single-family homes I would load up on them.”
“It’s a way, in effect, to short the dollar because you can take a 30-year mortgage and if it turns out your interest rate’s too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years. So it’s a very attractive asset class now.”
“If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”
“If I was an investor that was a handy type and I could buy a couple of them at distressed prices and find renters, I think it’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make now.”
Definitely common sense advice. The rates are at historic lows, the recession isn't going to last forever.
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