Warren Buffet has been revered as the man to look to with answers regarding stocks, bonds, and much more when it comes to investments, and naturally he has something to say about the housing market too. I have to say, while I don’t always agree with everything I hear, he made a pretty good statement regarding housing and its current state along with the government and how they fit into this mess.
Buffet said; “Our country’s social goal should not be to put families into the house of their dreams, but rather to put them into a house that they can afford.” Wow! I couldn’t have said this any better, and it’s something that our country needs to get a hold of and quickly. Time is running out on our country to get wise, and we have no other option but to enforce better lending practices.
In Buffet’s opinion, there will be a recovery and he believes that it will happen within a year or so. I know that there are many who claim to believe this, and hopefully with a rash of new and young buyers we can make this all possible. A friend of mine in Ohio is seeing that there are many homes not always being sold, but many offers for lease option to buy, rent, or even for a land contract.
Our housing climate is a little different, but in some way we are seeing things a little different than we used to. My hope is that banks, lenders, and officials will adopt Buffet’s attitude, because the clock is ticking and we simply cannot afford to go through this again as a country.
-Mayer Dallal
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