Greg Abel: Clayton Homes numbers down, driven by interest rates and challenged consumer

Summary

Greg Abel, CEO of Berkshire Hathaway, discusses Clayton Homes' declining sales due to interest rates and consumer pressures, while highlighting the company's strategy to deliver affordable homes through crossmod and manufactured housing at low price points. The segment focuses on operational challenges and the opportunity in affordable homeownership.

• Clayton Homes' manufactured home sales down ~10%, site-built down ~5-7%.
• Declines driven by interest rates and challenged consumer.
• Clayton Homes is pursuing affordable housing with crossmod homes at $249k including lot.
• Manufactured homes can be delivered for under $35,000 (excluding lot).
• 70% of crossmod home built in factory, 30% on-site.
• These homes qualify for 30-year mortgages, indicating quality.
• Greg Abel emphasizes the company's ability to deliver the American dream affordably.