NEW YORK (Reuters) - Berkshire Hathaway Chairman and Chief Executive Warren Buffett said on Wednesday he would buy very few technology stocks at current levels and that the U.S. government should play a part in the housing market.
"There's very few tech stocks I would want to buy at the prices they sell for, but it's not remotely like the bubble that existed 15 years ago," the billionaire investor told Bloomberg Television.
The U.S. stock market has been hit with a wave of selling, particularly in high-growth stocks in the technology and biotechnology industries in recent weeks. The Nasdaq composite index <.IXIC>, which is heavily composed of technology company shares, has fallen more than 5 percent since early March.
"We're not seeing total craziness or anything of the sort, but we're certainly seeing some companies go public at very high valuations and some private transactions at some pretty fancy prices," Buffett said.
Buffett also said the government should play a part in housing, and that the U.S. public would be better served with a government-guaranteed instrument "in the picture." He said he did not see any role for Berkshire Hathaway in mortgage financiers Fannie Mae and Freddie Mac .
The Senate Banking Committee will meet later this month on a bill that would abolish Fannie and Freddie and replace them with a new agency to back home loans. Lobbying activity in opposition to the bill has stepped up ahead of the meeting.
Buffett, who also denied interest in purchasing the Chicago Cubs Major League Baseball team, said that Berkshire was working on some pending acquisitions but none of them was very big.
"They're not very huge, but there's enough going on that I would hope that maybe one or two would materialize," he said.
(Reporting by Sam Forgione; Editing by Meredith Mazzilli and Cynthia Osterman)