Warren Buffet on housing, acquisition and more
The most amusing bit is this comment on house prices:
There were three ways to cure this overhang: (1) blow up a lot of houses, a tactic similar to >the destruction of autos that occurred with the “cash-for-clunkers” program; (2) speed up household formations by, say, encouraging teenagers to cohabitate, a program not likely to suffer from a lack of volunteers or; (3) reduce new housing starts to a number far below the rate of household formations.
There is also a defence of their acquisition of a railway company.
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