For those that are new or want a refresher, the exclusive report by the Daily Business News on MHProNews of the Clayton Homes related 2018 data from Warren Buffett and Berkshire Hathaway is found at the report linked from the text-image box below.
2018 Berkshire Hathaway Annual Report, Clayton Homes, Shaw Data Revealed, Facts Others Lack
This weekend has witnessed the so-called “Woodstock of Capitalism,” the 2019 edition of the Berkshire Hathaway annual shareholders meeting in Omaha, NE. An estimated 40,000 plus were expected to attend.
Yahoo provided coverage of the event, and the video below is from that source. Per Yahoo, “Buffett said it would be “very good for America” if Fannie Mae and Freddie Mac did more to help finance manufactured homes, such as those made by Berkshire-owned Clayton Homes.”
There is a lot to unpack from this 4 minutes, 2 second long video.
As close, thoughtful, and longtime readers of our pro-industry trade media platforms already know, there have been allegations for years of market manipulation by Clayton Homes within the manufactured housing industry and finance space. One such report, based upon a letter from Tim Williams at 21st Mortgage Corp, the words of Buffett himself from that same year, and a nearly 1-hour long video with Kevin Clayton, are all found at the link above.
What is discerned from this weekend’s statement by Buffett and Munger ought to be viewed through that lens, and what follows.
Furthermore, there are sources inside the GSEs, and from a Berkshire brand led by CEO Tim Williams at 21st that indicated that for some time, the powers-that-be from Omaha-Knoxville metros worked first to foil, and more recently, to redirect lending from Fannie Mae and Freddie Mac away from the bulk of manufactured housing.
For such reasons, the Manufactured Housing Association for Regulatory Reform (MHARR) has been engaged in a tough, protracted battle to encourage the full implementation of the law, not just a partial one.
MHARR Calls on New Fannie Mae CEO Hugh Frater to Fully and Properly Implement Federal Law | Manufactured Housing Association Regulatory Reform
MHARR CALLS ON NEW FANNIE MAE CEO TO FULLY AND PROPERLY IMPLEMENT FEDERAL LAW Washington, D.C., April 11, 2019- The Manufactured Housing Association for Regulatory Reform (MHARR), in an April 9, 2019 communication to newly-installed Fannie Mae Chief Executive Officer, Hugh R.
With all due respect to Buffet, as the next link reveals, there have been times that what he said did not line up.
More recently, HBO’s Last Night Tonight with John Oliver viral video errantly dubbed “Mobile Homes” reflected the revelation that it was Buffett’s brands and Manufactured Housing Institute (MHI) connected companies that were causing the industry blowback in mainstream media reports. Our publisher in a letter published in 5 markets in Florida, including Jacksonville called on the public to hold those responsible for purported misdeeds, not the industry at large.
Warren Buffett must be construed in the light of not only his words, but also of the deed of the brands they own. Furthermore, as Buffett and Berkshire has been wont to fund both sides of certain battles, that raises fresh concerns, as the report linked here documents.
Those points and the linked evidence and logic from those articles should be kept in mind by investors, advocates, researchers, policy wonks, politicos — plus, of course, the industry’s home owners and professionals.
That said, will Buffett’s comments this past weekend could potentially be used to encourage Fannie Mae and Freddie Mac to lend on all manufactured homes, or just on select ones, as the Clayton-MHI backed ‘new class of homes’ effort promotes? Time will tell. But as with all things connected to Buffett, it bears a nuanced consideration. See the related reports, further below.
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.
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Related Reports:
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Warren Buffett’s Profitable Lessons for Manufactured Housing
News Tip, Document – Is Clayton Homes Engaged in False Down Payments? Deceptive Trade Practices?
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White Collar Shakedown, Fear, Hobbs Act, and Manufactured Housing Independents Struggles
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MHARR CALLS ON NEW FANNIE MAE CEO TO FULLY AND PROPERLY IMPLEMENT FEDERAL LAW Washington, D.C., April 11, 2019- The Manufactured Housing Association for Regulatory Reform (MHARR), in an April 9, 2019 communication to newly-installed Fannie Mae Chief Executive Officer, Hugh R.
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