Have you heard of Warren Buffett? He’s one of the richest men on the planet and possibly the greatest investor the world has ever seen. But despite his great wealth, his company, Berkshire Hathaway, is based in Nebraska and the 79 year-old billionaire has a plain corner office with no computer.
The reason I’m telling you all this is that he knows a thing or two about markets and in his recent letter to shareholders he said the U.S. residential real estate slump will end within a year. And whatever happens financially in the U.S. usually happens in the UK shortly after meaning a quick house sale could be on the cards. Buffet feels confident that the market will recover by early 2011 because the Government is to reduce new housing developments to a number far below the rate of household formations.
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