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.

David Hanson owns shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.