Buffett Sees Stronger Housing Market Ahead

Dalton, GA, March 1, 2011 -- Shaw Industries said over the weekend that it will invest $200 million in 2011 on carpet mill upgrades.

In his annual letter to shareholders, Berkshire Hathaway CEO Warren Buffett predicted the housing recovery should come in the next year.

“A housing recovery will probably begin within a year or so,” Buffett told shareholders Saturday.

Buffett said Shaw, part of Berkshire Hathaway, will spend $200 million this year on plant and equipment at Shaw facilities in the U.S.

“These businesses entered the recession strong and will exit it stronger,” he said.

Related Topics:Shaw Industries Group, Inc.