Berkshire Hathaway Chairman Warren Buffett said over the weekend that he sees some signs of stabilisation in housing markets. "In the last few months you have seen a real pickup in activity although at much lower prices," Buffett said, citing data from In Roughly 1.3 million households are created each year in the Now housing starts are running at roughly 500,000 units per year, which means the excess inventory is being absorbed at a rate of about 700,000 to 800,000 units a year, Buffett said. "We are going to eat up inventory. That may take a couple of years. When it gets done you will have stabilisation in housing prices," he said. "Then you will have demand for more housing starts." |
Monday, May 4, 2009
Buffett sees signs of stability in US hsg market
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Economic Event Calendar
GMT+5:30 | Event | Vol. | Actual | Consensus | Previous | |
---|---|---|---|---|---|---|
Tuesday, Jun 10 | ||||||
11:30 | Average Earnings Excluding Bonus (3Mo/Yr) | 2 | 5.2% | 5.4% | 5.5% | Revised from 5.6% |
11:30 | ILO Unemployment Rate (3M) | 3 | 4.6% | 4.6% | 4.5% | |
11:30 | Average Earnings Including Bonus (3Mo/Yr) | 2 | 5.3% | 5.5% | 5.6% | Revised from 5.5% |
11:30 | Employment Change (3M) | 3 | 89K | 112K | ||
15:30 | NFIB Business Optimism Index | 1 | 98.8 | 95.9 | 95.8 | |
18:25 | Redbook Index (YoY) | 1 | 4.9% | |||
21:00 | 52-Week Bill Auction | 1 | 3.93% | |||
22:30 | 3-Year Note Auction | 1 | 3.824% | |||
Wednesday, Jun 11 | ||||||
02:00 | API Weekly Crude Oil Stock | 1 | 0.7M | -3.3M | ||
04:15 | Visitor Arrivals (YoY) | 1 | -8.4% |
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