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Apparently not, according to the latest thoughts of Older Buffett. Getting bubbly.

Oh well, 43% on a highly leveraged investment.

Typical home costs quarter-million
Valley resale price jumps 43% in year; fewer can afford a house

Glen Creno
The Arizona Republic
Jul. 14, 2005 12:00 AM

The record-setting resale housing market in metropolitan Phoenix hit another milestone last month when the price of a typical home rose to nearly $250,000....


Thank goodness for those supply-side tax cuts. That Phoenix free money has to be down mostly to that genius. Eh?

And those "rising" tax revenues? Stay less than 2 years and you pay tax. I've seen dozens bought and sold just in this rather small Glendale, AZ development, that is less than two years old. $$$$

Think of all the GDP and tax revenues the free money that is circulating creates.

Gotta to be good for the economy and tax revenues especially if this can go on forever, or pretty close to forever, I figure. I see quite a few people who seem to think that is going to go on forever. Look at that tax revenue, they say. Wow. Heck, the Bush administration was bragging just yesterday that they will "beat by a penny". Some folks still buying that old Wall St. trick, apparently, at TMF. We beat by a penny. The excitement.

Anyway, Young Buffett passed up 43%--almost that 50% Golden Target!!--last year. Hey, value is value.



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