Warren Buffett Pre-Annual Meeting Interview 2015 - Economy, Fed Rates, Housing

On eve of 2015 Berkshire annual meeting: 'This could be a record breaker for attendance...it will be...north of 40,000...almost certainly.' Meeting draws people wanting to hear about Berkshire and Buffett's economic views.

Despite weak GDP: 'We're seeing exactly what we've been seeing since the fall of 2009 sort of two percent...steady growth and...you hear talk when people get excited and when they get depressed about things but it's just been moving along at that pace.' On flat growth: 'I would doubt it.'

On February statement about Fed tightening: 'I would say if there are negative rates...Poland issued a negative...yield bond...I think it's very tough to keep having higher rates in the United States and not have tremendous flows over here if you...bump rates here and they they're negative elsewhere.' Impact: 'We already have seen a strong dollar...affect...exports to some degree...it's just bound to have an effect.' Caution: 'I think I'd be very careful until the Europeans kind of sort things out.'

Berkshire housing businesses: 'They're all doing better but they're not doing dramatically better.' Shaw: 'Doing a fair amount better but raw material costs because...the carpet is oil-based...margins are better there.' Clayton: 'Selling more homes this year than last year and sold more homes last year than the year before.' Acme: 'Selling more brick but...nothing dramatic.'

On Clayton criticism: 'You bet...I'll have a lot of documents and figures that we'll...share with the meeting on Saturday to defend Clayton.' Defense: 'Clayton is a terrific operation and...it's done wonders for homeowners.'

NetJets correlation: 'It's also a proxy for what the stock market's doing it's amazing how our...sales volume and to some extent...even our...flying volume...correlates with the stock market.' Current: 'Having fairly decent gains in ownership in the United States not...in Europe but in the United States having more flying we're having more owners and we're selling more planes that we sold a year ago and two years ago.' Interpretation: 'That reflects a strong stock market...among other things.'

On NetJets union: 'There's no need for me to step in...it has been open for a long time and they haven't really come back with anything but it will get resolved.'