"All things considered, the third-best investment I ever made was the purchase of my home."
Billionaire Warren Buffett said that in his annual letter to shareholders over the weekend.
Buffett is bullish on housing...
"Home ownership makes sense for most Americans, particularly at today's lower prices and bargain interest rates," he wrote.
Just last week, I wrote the same thing to subscribers of my newsletter, True Wealth:
Now is the best time in American history to buy a house.
Home prices have crashed more than at any time in our lifetimes. And mortgage rates recently hit all-time lows. Houses are more affordable than ever.
Things are getting Less Bad. The recession is over. Housing starts bottomed, and the supply of new homes on the market peaked. Homebuilders like Toll Brothers are "back to growing," and my home inspector friend is "swamped" with business.
If you can buy a house, now is the time – the best time in history. While prices may not soar immediately, I believe we're seeing the lows RIGHT NOW.
Last week, I thought I was standing alone, saying this. But after Warren Buffett's annual letter came out over the weekend, it appears I have company... The man who is arguably the greatest investor in history agrees with me about housing.
One of my main conclusions in True Wealth was:
Homebuilding is cyclical. And I believe we've just finished the worst of this down cycle – which is the worst ever seen in our lifetimes, and likely the worst we will ever see. Now comes the upturn. Get in early... get in now.
In that issue of True Wealth, I specifically say what to do... which could show you gains of as much as 1,000%. (I know that number sounds crazy, but this strategy returned 1,064% in the late 1970s.)
If you're not a subscriber, you can still take action...
Last week, I said it's the best time in history to buy a house. And over the weekend, the world's best investor agreed with me.
You can listen to your neighbors, the government, or the news media complain about how terrible housing is. Or you can listen to the advice of the best investor in history (Buffett).
Who do you think has a better chance of being right?
U.S. housing is a fantastic deal right now. If there's any way for you to take advantage of it, you must.
Good investing,
Steve
P.S. Buffett said buying his home was the third-best investment he ever made... But what did he say were his best two investments? "Wedding rings."
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