Thursday, 11th of March 2010 at 12:57:23 PMBillionaire Warren Buffett said the U.S. will recover from the residential real estate slump by 2011 as demand for houses catches up with the supply that accumulated during the bubble.
“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote recently in his annual letter to the shareholders of his Berkshire Hathaway. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means.”
http://www.usatoday.com/money/economy/housing/2010-03-01-buffett01_ST_N.htm