Warren Buffett says Buy Single Family Homes
February 28, 2012What does Warren Buffett, one of the richest men on earth and one of the greatest investors ever say about buying homes? BUY NOW. Yesterday on CNBC’s program “Squawk Box” Mr. Buffet said that if it were practical he would buy a “couple hundred thousand of them.” When asked about whether buyers should get into the market Buffett said, “If I knew where I wanted to live the next 5-10 years I would get a 30 year fixed mortgage and buy a home.”
With the Federal Reserve saying that interest rates are likely to remain low in the future, investors are looking for investment opportunities that will produce income and appreciate in value. In markets like Pierce County it is possible to purchase homes for less than the cost of rent which makes them excellent investment opportunities. “It’s a leveraged way of owning a very cheap asset,” says Buffett.
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