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Warren Buffett: Housing's Picking Up, Powering Retail

Veteran businessman Warren Buffett knows what's up. At Fortune's Most Powerful Women Summit in Washington this week, the third-wealthiest guy alive gave his thoughts on the housing and retail markets.

The CEO of Berkshire Hathaway believes the housing rebound has fueled growth in the overall US economy, which has trickled down through sectors like retail.

"Housing is picking up," Warren says, and "our furniture stores are running at good gains." If you're getting a new home, might as well treat yourself to a new couch too, right? [Bloomberg]