Buffett: Real estate slowdown ahead
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PostPosted: Mon, May 8 2006, 10:11 am EDT    Post subject: Buffett: Real estate slowdown ahead Reply with quote
Buffett: Real estate slowdown ahead

The Oracle of Omaha expects the housing market to see "significant downward adjustments," and warns on mortgage financing.

By Jason Zweig, MONEY Magazine senior editor
May 8, 2006: 9:44 AM EDT

OMAHA (MONEY Magazine) - At this weekend's annual meeting of Warren Buffett's Berkshire Hathaway, security is tighter than usual, with several entrances to the parking lot of the Qwest convention center closed.

This may have something to do with Buffett's announcement yesterday of his purchase of an 80% stake in Iscar, an Israeli-based metal cutting tools firm, for $4 billion. In one fell swoop, that makes him one of the biggest foreign investors in Israel. With that news, a little extra security amidst the sea of the roughly 20,000 shareholders and acolytes in attendance can't hurt.
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