If you thought it was over for Clayton Homes and their Berkshire Hathaway affiliated lending units with federal officials, mainstream media and other sources are telling the Daily Business News on MHProNews that it’s not.
WBIR, an NBC News affiliate, said Federal authorities are involved in an ongoing investigating of Clayton Homes for possibly discriminatory action against minority borrowers.
It’s not all a ‘new story’ to MHVille. But it is a continuation of the same or new issues that the Seattle Times, BuzzFeed News, the New York Times, Wall Street Journal, Guru Focus, the Nation, and other mainstream media outlets have spotlighted in 2018, or previously.
This report posted above by a local Tennessee NBC news affiliate doesn’t include Clayton’s denial of the allegation. But in fairness, other sources have told MHProNews that Clayton later denied the charges. They said in part that numerous routine audits have turned up nothing.
But their denial statement is arguably misleading, per other mainstream media, Washington D.C. regulators, and manufactured housing industry sources.
MHProNews has heard directly from federal officials, as well as private attorneys, that are exploring these issues, as well as antitrust, or other concerns.
Some have told the Daily Business News that many who have been through such federal investigations or civil procedures already know. These investigations and procedures can take time.
Rephrased, there can be a quiet before the storm breaks.
Two Sides of the Clayton Allegations Coin
As MHProNews has said, in America, allegations alone are not proof. Thankfully, in the U.S., one is deemed innocent until proven guilty in a court of law, via a settlement, or plea agreement, etc.
At the same time, the other side of the coin is that Clayton has previously admitted to having paid fines in connection with this ongoing allegations and media scandal.
While denying intent, both Warren Buffett and his colleague at Berkshire Hathaway – Vice Chairman Charlie Munger – have said that they don’t doubt that ‘someone, somewhere has done something wrong.’
Berkshire’s Munger’s statement to CNN Money of denial, while admitting in his own words that ‘something indeed could have happened with someone somewhere,’ is posted above.
Why It Matters to MHVille
For those who recall the glory days of much higher levels of manufactured home sales, rationale people should ask questions like the following.
- Why is manufactured housing underperforming?
- Why is the public perception so poor, in spite of an overall record of quality and home owner satisfaction?
- Isn’t the steady drum beat of such reports about Clayton or MHI part of the problem?
See some related reports, linked below. “We Provide, You Decide.” © (News, analysis, and commentary.)
- Footnote: The home shown is a manufactured home, not a mobile home. Also, the community is not a ‘trailer park,’ it is more properly a land lease community for manufactured homes.
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Let’s stipulate that both President Donald J. Trump and his anti-Trump opponents at times error in various ways. No one is perfect. Let’s note later why the bullets below matters for the cause of the economy, affordable housing in general, and manufactured homes in particular.
