After U.S. housing prices had crashed, Warren Buffett of Berkshire Hathaway (NYSE: BRK-B ) (NYSE: BRK-A ) believed prices would quickly recover. While Buffett has said that prediction was "dead wrong," but it turned out to be mostly just "early." Home prices in most parts of the United States are climbing higher as mortgage rates remain low and unemployment rates fall.
In the following video, Motley Fool Banking and Financial Services analyst David Hanson visits the exhibition floor at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. This year, over 40 of Berkshire Hathaway's operating subsidiaries set up exhibits and allowed investors to see their latest products and innovations. During the meeting, Warren Buffett and his business partner, Charlie Munger, took questions from shareholders for nearly six hours and provide their thoughts on everything from investing, corporate governance, and personal success. Touring the floor, David stops by the Clayton Homes exhibit. Clayton Homes, a subsidiary of Berkshire, is the country's largest home manufacturer, and David details why this is just one of a few of Buffett's bets on the U.S. housing market.
Warren Buffett just bought nearly 9 million shares of this company
Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report details this company that already has over 50% market share. Just click HERE to discover more about this industry-leading stock... and join Buffett in his quest for a veritable landslide of profits!