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"it's Like A Disease [dumb Lending]"

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http://www.allheadlinenews.com/articles/7003468319 - extracted info:

Buffett Predicts A Housing Bubble Burst At Annual Meeting

May 7, 2006 9:46 a.m. EST

Matthew Borghese - All Headline News Staff Writer

Omaha, NE (AHN) - Financial giant, Warren Buffett has given the world his economic predictions at the annual meeting of his company, Berkshire Hathaway.

.............According to Buffett, the U.S. housing market is coming upon a correction.........................

Munger adds, "There is a lot of ridiculous credit being extended in the U.S. housing sector."

Buffett says that Miami-Dade and Broward counties are seeing "a rise in unsold inventory and stagnation in price."

Buffett believes, "Dumb lending always has its consequences. It's like a disease that doesn't manifest itself for a few weeks, like an epidemic that doesn't show up until it's too late to stop it."

Click through for full story

Edited by Vivaldo

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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