Warren Buffett's $31,500 House Is Now Worth $1.4 Million But He Says He Would Have Made Far More Money By Renting Instead.
Find out more on benzinga.com.
Find out more on benzinga.com.
Category
🗞
NewsTranscript
00:00 Warren Buffett, famously known as the Oracle of Omaha, is celebrated for his modest lifestyle
00:05 despite being the sixth richest person globally with an estimated net worth of $120 billion.
00:11 He still resides in the same unassuming home in Omaha that he purchased in 1958 for $31,500,
00:19 a mere fraction of his vast wealth.
00:22 The house, valued today at around $1,439,000.
00:27 But he says he would have made far more money by renting instead.
00:31 Buffett expressed the belief that while home ownership is sensible for most Americans,
00:35 he personally might have made more money by renting and investing the purchase funds in
00:40 stocks.
00:41 He cautions against overspending on a home, emphasizing the financial risks and potential
00:45 nightmares that can arise when buyers exceed their means and warns about lenders facilitating
00:51 such situations.
00:53 Despite these considerations, Buffett remains content with his choice and appreciates the
00:57 happiness his home brings him.