"Do NOT Buy A House!" (Warren Buffett's Final Warning)

"During his most recent shareholder meeting, Warren Buffett said that he no longer sees real estate as an attractive investment."

"It's a lot easier to make money in the stock market than it is with real estate. Or as he says, it's so much harder than stocks in terms of negotiation of deals, time spent. There's so much more opportunity in security market than in real estate."

"Like just consider that since 1928, the stock market has averaged a 9.8% a year with dividends reinvested. This is without any work, no management, and no borrowing. Just buy a single fund, take a few seconds, don't pay our hands if the market falls, and do nothing."

"The last time Warren Buffett even considered buying real estate was back in 2012. And he said it himself. Part of the appeal was low interest rates fixed for 30 years. Under certain conditions, borrowing at 3% from a bank makes a lot of sense."

"You're dealing with a single owner. To them, it's an enormous decision. When you walk down to the New York Stock Exchange, you can do billions of dollars worth of business, totally anonymous, and you can do it in 5 minutes. And the trades are complete when they're complete. In real estate, when you make a deal, then people start negotiating more things and more things, and it's a whole different game."

"Instead of putting $50,000 down on a $250,000 home in 1995, an investment in the stock market would be worth over $94,000. Compare that to housing, which has appreciated 4.3% and that would leave you with $844,000, not including the expense of maintenance, property taxes, insurance, and repairs."

"And for everyday investors, it is possible to make a significant amount of money in real estate if you're buying as an investment and you're prepared to put in a lot of time and effort to run it successfully. Yes, it is significantly more work than stocks, but the way I see it, it's not exactly a one-to-one comparison."

"most real estate is simply a long-term hedge against inflation and a way to put a roof over your head. That's it. If you're looking for a place that you could move into yourself that you plan to keep for at least a decade, then yes, buying can make good financial sense."

"At today's levels, none of them would cash flow and I would be losing thousands of dollars a month. So, this was only sustainable when conditions were good, and now it's really difficult."

"This is also why Warren Buffett would have bought real estate in 2012 after prices had already fallen 30 to 50% when interest rates were at their record lows."

"Personally, I believe that in real estate, you tend to make most of your money when you buy, not necessarily when you sell."