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The New York Observer

Buffett's Warning

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May 8, 2006 | 8:04 a.m.

Property Grunt provides us with a link to CNN Hb-Warren_Buffet_85506h.jpg
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

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