Warren Buffet "I’d buy………………."
Appearing Live on CNBC’s squawk box, Warren Buffet tells Becky Quick he’d buy up to a “couple of hundred thousand” single family homes if it were practical to do so. If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. He advises homebuyers to take out a 30-year mortgage and refinance if rates go down. (To what I wonder – 0%?)
NAR pending home sales near a two year high in January. Easier mortgage lending criteria, very low mortgage rates, and the improving labor market are all contributing to the beginnings of a real upturn in home sales, if not yet prices.