During the financial crisis, lenders across the United States collapsed as borrowers failed to meet their mortgage payment obligations due to the economic situation.
Mariotti Building Products
Viking Carrier
PFS Corporation
One company fared better than most in this environment. That was Berkshire Hathaway’s housing subsidiary, Clayton Homes.
Clayton Homes is the largest builder of manufactured housing and modular homes in the U.S. Berkshire acquired it in 2003 for $1.7 billion, and since then, it has been a profit powerhouse for the business.
That said, the business has attracted some criticisms for its lending practices, though Buffett has been quick to rebuke these criticisms and concerns.
For its part, the company has remained popular with homebuyers and borrowers. Actions speak louder than words in this case.
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