‘American dream will continue to exist’: Warren Buffett’s successor is betting big on U.S. housing

Berkshire Hathaway is doubling down on U.S. homebuilders, even as the housing market struggles to find its footing. Since Greg Abel succeeded Warren Buffett as CEO on Jan. 1, Berkshire has made three major moves in homebuilding. In late May, it agreed to acquire Taylor Morrison, the nation's sixth-largest homebuilder, in a cash deal worth $6.8 billion in equity and about $8.5 billion including debt. The deal closed in July. In early July, Mungo Homes, part of Berkshire's Clayton Properties Group, acquired South Carolina builder McGuinn Homes. And in the third quarter, Berkshire nearly doubled its position in Lennar, America's second-largest homebuilder.