79 year-old billionaire and investment guru Warren Buffett has announced the end of the housing market lull and it’s be within the year. Buffett spoke about the topic in his annual letter to shareholders of his company Bershire Hathaway, saying that the “U.S. residential real estate slump will end within a year”.

This is good news for the repossession hit UK market if it is to be believed as it will no-doubt feel a positive knock on effect from a rising U.S. housing situation. Buffett puts the recovery down to new Government policy that will see less houses built that are needed, meaning existing empty properties will be used instead.

Have you heard of the Sale And Rent Back option when facing a repossession order or needing to free up cash? It’s where a home owners sells their property and rents it back and now, those who choose this option will be far better protected from disappointment and homelessness.

New will be introduced on June 30th 2010 by the Financial Services Authority (FSA) that will govern sale and rent back companies and ensure new restrictions. These include the banning of high-pressure sales tactics and highly emotional advertising as well curtailing cold calling and letterbox dropping. But the best news for customers is the introduction of a mandatory 14-day cooling-off period and a minimum tenure of 5 years.