With housing it's something even more dramatic than that, because most people aspire to own their own home.If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year.That's not true of an Internet stock. But it's true of a home.
Warren BuffettA single year's performance is of minor importance and, good or bad, should never be taken seriously.
Warren BuffettNever count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
Warren BuffettAs an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
Warren Buffett