Monday, February 27, 2012
Warren Buffett - A Housing Moron Too!
Apparently in the past he said that housing would have bottomed by now.
Single family homes only look cheap in Florida and other places that have been over-developed. And they only look cheap because of record-low, unsustainable mortgage rates.
NYC had 3 housing crashes in the 1970s alone. Meanwhile all these bull-market housing Morons think that today, somehow, the housing market correction is going to happen without NYC-area real estate dropping hardly at all - which it hasn't!
Here's the link for his latest.
See also - Warren Buffett - STEALING From Taxpayers!.