Money News reports that during a conference hosted by Fortune magazine, billionaire Warren Buffett expressed his confusion to the home construction pick-up that is slower than he had expected.
Commerce Department data show housing starts slumped in August from the highest level in almost seven years to a 956,000 annualized rate. Buffett says that with the current low mortgage rates, people would be lining up to get a mortgage and buy a home, but slow wage growth and tighter lending standards have kept some would-be borrowers from buying.
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