What Berkshire Saw in Lennar
True to the thesis that it pays to be greedy when others are fearful, Berkshire Hathaway is increasing its exposure to the US housing market at a challenging time for the industry. Since June, CEO Greg Abel has doubled Berkshire's stake in Lennar, one of the largest US homebuilders.
Berkshire Hathaway, led by CEO Greg Abel, is increasing its exposure to the US real estate market, despite it being a challenging time for the sector. The company has doubled its stake in Lennar, one of the largest US residential builders, to 12%, worth $2.2 billion. Berkshire also acquired Taylor Morrison, a major residential builder, for $8.5 billion in July, and already owns Clayton Homes, a giant in the prefabricated home segment.
The US residential market is under pressure due to rising interest rates, higher costs, and decreased purchasing power, with the 30-year mortgage rate at 7.4% and median home price at $418,000.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
