Buffett: Economy Getting Better, ‘Homebuilding Best Sector’ This Year

Investing guru Warren Buffett says he thinks the U.S. economy and housing markets are steadily getting better and that “homebuilding will be the best sector this year, in my view.”

He also said he doesn’t make knee-jerk reactions about stocks after events like the French presidential election.

“It’s not a question of being in the market,” he told CNBC. “It’s a question of owning businesses. If I wanted to own farms, I wouldn’t be buying and selling them based on an election. I wouldn’t try to figure that sort of thing out,” he said.

“I can’t think of what I really (would) have done much about purchases or sales in any election,” he said.

“When I was a kid, every time a Democrat got elected … there was a wake in our house, and my father would start storing sugar in the basement. So, I’ve learned to not put too much weight

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