No signs of recovery in housing

Bloomberg

"There’s no signs of any real bounce at all in anything to do with housing, retailing, all that sort of thing," said Buffett, 78, in a Bloomberg Television interview before the Omaha, Nebraska-based company’s annual shareholder meeting Sunday. "You never know for sure, even if there’s a leveling off, which way the next move will be."

Paul Volcker, one of President Barack Obama’s economic advisers, said this week that the economy was "leveling off at a low level" and doesn’t need a second fiscal stimulus package after the $787 billion plan signed by Obama in February. The U.S. economy contracted at a 6.1 percent annual rate in the first quarter.

The annual meeting gives Buffett and Vice Chairman Charles Munger a platform to discuss markets, the economy and Berkshire’s businesses.