Warren Buffett defends Clayton Homes

At the annual Berkshire shareholders meeting. You can check out the replay on CNBC. 

Warren Buffet deserves an award for his contributions to affordable housing. His critics are ignorant of the facts regarding the slam article in the Seattle Times. I wrote a large rebuttal to that article which comes out in the next edition of the Journal of Manufactured Housing. 

I was the industry expert “quoted” by the Seattle Times. It is too bad that what I said wasn’t what they wrote when “quoting” me.

As Frank wrote, “his critics are ignorant of the facts”. I believe, given my experience with their reporter, they want to be ignorant of the facts. The articles are being used to stop MHI’s progress in the Senate on passing the Preserving Access to Manufactured Housing Act.

There is an ongoing agenda to eliminate chattel financing for manufactured homes by certain individuals and groups. The end result if they are successful is the elimination of private ownership of manufactured home land-lease communities. The 4 and 5 star communities will be converted to resident owned communities and the others will be forced to be rental communities or go out of business. Those conversions will make a few individuals handling the conversions and the resident financing billionaires.

This is one of many problems community owners should be prepared to fight.

Link to The Journal article?

The Journal article has not come out yet – it comes out in June.

Fantastic Article Frank! It might be one of your very best! :grinning:

Thanks, Ken. Appreciate your kind words.