By Andrew Frye, Bloomberg News
Billionaire 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 Saturday
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.”
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