Kevin Clayton on the floor Berkshire Hathaway Annual Meeting with Warren Buffett

This is different this year. It’s it’s got the really nice front porch that’s put out. It is Portico. Yeah. This is again what we call everything we do. We’re trying to innovate to be the best attainable housing company out there. So Warren always talks about how affordable our payments are and that’s why we do a mortgage with someone. They’re going to stay in it. So we were now payments have really gone up $650 a month pre pandemic. We’re now at 9:50. How much is that is higher rates, how much of those of that is it’s more expensive to build them it building costs, I would say in that 30% range. So that total is in the 45. So that drove us to certify all of our facilities across the country to build 0 energy ready. We talked about that briefly last year. So now every 50,000 manufacturing homes we’ll build this year will be 0 energy ready. That means we’re cutting their utility costs up to and half. So we’re the only with the by far the largest organization doing that and that’s the Department of Energy’s highest standard that’s offered out there both both my wife and my daughter and actually made myself but but it’s just too much be too many problems with the the neighbors and a few things they don’t like to be teared on my house that I have now and actually and you know be on one floor and you know I I I wouldn’t have they don’t like me going up and downstairs and and I would be very very very happy absolutely. Well the affordable housing crisis in the country this is a big part of that solution. So this house 18160 square feet at only $236,000, a $127.00 a foot and the utility costs are only $155 a month on average. So the zero energy ready saving them about $90.00 a month. Though it’s the zoning people and everybody are waking up that this is an important part of that solution. Yeah, yeah, there’s there’s opposition though every place obviously because they don’t like the fact that you should know build these houses. Yeah, it is really it’s it’s fascinating. Yeah. And with so now we call we call this luxury attainable. So this, this home has every high end feature you can imagine a traditional site built home tiles, backsplash showers, quartz countertops. So I can’t wait to show it to you and you’ll be amazed that you can get that. You know in Omaha the average site built homes 443,000. This, including land set up on your land would be less than 300,000. Oh wow, I’ve got the 300,000 I just haven’t got. I’m ready to buy but and and and I shouldn’t ready to buy but I’m not sure that the neighbours would be great if I would turn up my president. But just the transformation in the industry in the 21 years it’s been, it’s been a sound. Yeah. And that’s why we deserve the term now modern manufactured home because it doesn’t resemble, you know, 20 or 30 years ago. And this house is built like a tank. It can, it can handle anything thrown at it. And right through 2008 and 9, everybody else folded. Essentially. We kept financing people when you bought us. Our market cap was greater than the whole industry combined at that time and we’re certainly glad that you did. It’s. I’m glad that I did it every now and then I stumble with them. I’ve been great for affordable housing in the country. We’re proud of it. I think we’re 90 manufactured housing is now 90 plus percent of all new single family housing at 200,000 or below. That’s how important. It’s got like 23 billion or so people. He’s finesse and he’s the, yeah we’re 2525 billion. Did you buy that portfolio we talked about yesterday? We did, we did. So we’ve we’ve been able to acquire portfolios. So 400,000 customers pay us and again on average the they’re paying anywhere from $500 a month to about 900 a month and it’s super affordable. And now their home built to 0 energy ready, we’ve got 30 billion or so homeowners coverage. So please watch those Tortagos going to hit one of ours for sure. Warren really knew the insurance business when we got in and appreciated that is this 3 bedrooms, this one it is and this, this is a flex model. So this is the Today is the national launch of our Encore offering. So there’ll be 8 facilities across the country this year that build this and you can decide if you want 2 bedrooms and a flex room or whether you want that to be a third room. This comes with a porch option, all that built into the home on the side here. So it’s a very flexible, but we’ll to gain efficiency, we’ll build this across the country and be able to offer it at that kind of affordability. I’m ready. I bought a lot of the homes back into that with 21 years ago and I I just like one for myself. We know you’re good for. I’d like to get one for yeah yeah. It hasn’t been tested lately but it it is good. Well you sure made a lot possible for us so we’re we’re excited now to it’s just started. Yeah. So we love building the traditional site build housing as well as in addition to the modern manufactured home. And our goal there is to to be the affordable attainable entry level on the site built side too and then kind of blend the technology we have of building a lot of components indoors versus outdoor, right. He’s got 99 conventional builders and they’ve made a few bolt on acquisitions. So they’ll build, they’re on track to build 10,600 site built homes. That’ll put us at about the number 7th in the country as far as site builder. But we need more houses in terms of specific markets. Worth could usually be one or two. I mean that. Yes, that’s right. Yeah. When you look at the Carolinas and Florida and Tennessee, we ranked up there very high. Yeah, it was a good day that the students sent me down to claim. Yeah, the, the students. I think the University of Tennessee was the first class that you started bringing here for lunch. Yeah. Well, it could be. It certainly was the first one that that gave me a a business tip, you know, I mean, they always want stock tips for me and they gave me a business tip for when they’ve all written his book. And yeah, I hope I I gave that professor the sheriff a oh, did you? And I gave the. I gave the students. He’s some big stock guy. I hope they all held on to it. Oh yeah, I was at that meeting and also they all went crazy. Tell them to vote for me.

OTHER NEWS

10 minutes ago

WikiLeaks founder Julian Assange can appeal extradition to U.S., UK court rules

10 minutes ago

Michael Cohen returns to testimony as Trump ‘hush money’ trial enters final stretch

10 minutes ago

Julian Assange fails to attend court hearing that could decide extradition fate due to health issues

11 minutes ago

Eskom awaits presidential guidance on essential load shedding

11 minutes ago

Ineos creates limited edition Grenadier with Belstaff clothing brand

11 minutes ago

What PM Narendra Modi’s 3rd term means to CM MK Stalin’s 4th year

11 minutes ago

After two years of dominance, are Red Bull showing signs of vulnerability?

11 minutes ago

Julian Assange wins High Court bid to appeal against extradition to US over spying charges

11 minutes ago

The iPhone 16 Pro max could have the longest battery life of any iPhone

11 minutes ago

New technique reduces risk of radiation side effects for prostate cancer patients

11 minutes ago

School districts face tough calls as COVID emergency funds run dry

11 minutes ago

Michael Cohen faces more grilling as Trump's hush money trial enters its final stretch

11 minutes ago

Truck drivers forum calls off national shutdown

11 minutes ago

Ranking NFL's 6 most improved offenses for 2024, from Caleb Williams' Bears to Aaron Rodgers' Jets

11 minutes ago

Red Lobster files for Chapter 11 bankruptcy, announces stalking horse bid by lenders

13 minutes ago

Inquiry slams successive UK governments for failures that killed thousands in infected blood scandal

16 minutes ago

Korean Film to Be Remade in Hollywood Starring Emma Stone

16 minutes ago

LIVESTREAM | Cellphone data analyst returns to stand at Meyiwa trial

16 minutes ago

Anthony Edwards Issues Blunt Warning to Kyrie Irving Before Western Conference Finals

16 minutes ago

Opera singers Allegra Giagu and Charlotte Goode bring their passion for music to regional towns

16 minutes ago

New coin to commemorate 80th anniversary of D-Day - how to get one

16 minutes ago

WikiLeaks founder Julian Assange fights US extradition with free speech argument

16 minutes ago

Trucks carrying desperately needed aid are rolling across a newly U.S. built pier into Gaza

16 minutes ago

Lorraine Kelly reveals what she would like her granddaughter to be called - after pregnant Rosie Smith announced that she was expecting a baby girl

16 minutes ago

Cate Blanchett sports a pair of quirky glasses and double denim as she hosts a Women In Motion talk during Cannes Film Festival

16 minutes ago

International Criminal Court seeks arrest warrants for Israeli PM Netanyahu and Hamas leader Yahya Sinwar for war crimes and crimes against humanity

16 minutes ago

Revealed: The investments that will really make a holiday let property pay. Experts pick the best features that can add up to £20,000 a year in value

16 minutes ago

'Biggest ever' Grand Designs home which was once used as a set for a lesbian PORN film, a Peter Andre music video and Ryan Reynolds BT adverts hits the market for £4m

16 minutes ago

Eagle-eyed supporters spot Darwin Nunez's reaction to Jurgen Klopp's farewell guard of honour... two weeks after the £85m forward deleted all Liverpool references on Instagram amid speculation over his future

16 minutes ago

Video: I've been a facialist for more than 45 years - here are all the reasons why your skin looks older than your age

16 minutes ago

Video: Jackie 'O' Henderson, 49, reunites with 'toy boy tradie' Jack Tyerman, 30, as they enjoy a date night in Sydney

16 minutes ago

How Kevin Costner keeps those cowboyish good looks! Star, 69, says he's 'never felt the need' for plastic surgery and credits his physique to running around after his kids - after welcoming 3 of his 7 children in his 50s

16 minutes ago

Love Island's Georgia Harrison breaks silence on her shock  split from Anton Danyluk following their BAFTAs spat as she insists she 'doesn't need a man to be happy'

19 minutes ago

Islanders Brock Nelson Ties Team USA's Men's Worlds All-Time Goal Record

19 minutes ago

High immigration ‘not working’ to ‘artificially’ push Australian economy

19 minutes ago

Oleksandr Usyk digs deep in thriller to down Tyson Fury and unite titles

19 minutes ago

King to captain West Indies against South Africa in absence of IPL players

21 minutes ago

Dublin-New York portal reopens with time limits after launch marred by ‘inappropriate behaviour’

21 minutes ago

Are consumers pulling back on spending? It depends which CEO you ask

21 minutes ago

How Can I Prevent Hypercholesterolemia? A Review By Doctors

Kênh khám phá trải nghiệm của giới trẻ, thế giới du lịch