Warren Buffett Says Housing Market Will Improve by 2011

From on March 04, 2010 in General Remodel

warren buffet housing marketHe speaks, we listen. Especially to what we want to hear. Those who have been holding off on selling their hard-won homes in the hope of actually making a profit might take heart in billionaire Warren Buffett’s letter to shareholders, if they can stomach getting their hopes up again.

In the Berkshire Hathaway Inc. document, Buffett states, “Within a year or so, residential housing problems should largely be behind us.” He goes on to say that although commercial real estate “will face major problems in the next few years,” 2011 will likely show improvement for the housing market. But he warns sellers in so many words not to expect bubble-level gains—the buyer will still be the likely winner, in large part because of the record number of houses available on the market due to foreclosures.

Though Buffett’s predictions may not induce euphoria about upcoming home values and property deals, the “next year will be better” sentiment bodes better than feeling that the housing crisis is interminable.

Photo Credit: Babble