According to Fortune, Buffett said the housing market is on stable footing, noting, “I don’t see a nationwide bubble in real estate right now at all,” adding no one across the country is paying bubble prices.
Also, in response to the charges levied at Clayton Homes by The Seattle Times and other newspapers of discrimination in its lending practices, Clayton Marketing Director Carl Hill said in an interview with Fortune, “We make a strong effort, any time a customer wants to purchase a home, to verify they have a reasonable ability to repay. It is in nobody’s best interest if a home is foreclosed. In fact, if a home is foreclosed, everybody loses.”
Hill said the stories are disappointing, that Clayton has policies and procedures to ensure MH buyers find the lender that is the best fit. ##
(Photo credit: Getty Images AFP/YHoshikazu Tsuno–Warren Buffett)
