Buffett’s Warning

Property Grunt provides us with a link to CNN

Hb Warren Buffet 85506h Buffetts Warning

Money where Warren Buffett says, “What we see in our residential brokerage business is a slowdown everyplace, most dramatically in the formerly hottest markets.”

Berkshire Hathaway vice chairman Charles Munger adds: “There is a lot of ridiculous credit being extended in the U.S. housing sector.”

Now, they’re talking mainly about Florida here; still, it’s Warren Buffett, not exactly a slouch in the investment business.

-Matthew Grace