Warren Buffett said executives who held back investments because of doubts about the economy are missing an opportunity as he plans to accelerate capital spending at his Berkshire Hathaway Inc. this year.
Ron Peltier, head of the real-estate brokerage business at Warren Buffett’s Berkshire Hathaway Inc., said a new U.S. Consumer Financial Protection Bureau rule setting lending standards could help banks extend credit.
Ron Peltier, the executive building Berkshire Hathaway Inc.’s real-estate brokerage by acquisitions, said he expects a rebound in U.S. home sales as banks liquidate seized properties after settling foreclosure-misconduct claims.
The publication of a rule requiring mortgage lenders to confirm a borrower’s ability to repay is the start of an effort by U.S. regulators to reshape the market blamed for sparking the 2008 financial crisis.
Lenders will for the first time be required by the government to verify borrowers’ ability to repay mortgages by confirming income and assets under a rule issued today by the U.S. Consumer Financial Protection Bureau.
Warren Buffett, whose prediction last year of a housing recovery was premature, is raising his bet on a rebound with his $3.85 billion bid for a mortgage business and loan portfolio from bankrupt Residential Capital LLC.