Buffett's Warning

Property Grunt provides us with a link to CNN
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