Saturday, February 27, 2010

Buffett and I agree on at least one thing.

again, from the most recent BRK letter:

"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."

Any one remember me saying that the government should have simply destroyed 1/3 of the nation's houses a bit more than a year ago? No one? Here it is.

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