Betting with Buffett

Further evidence that Warren Buffett’s Berkshire Hathaway is poised for the worst housing slump in 70 years to end, he has been buying real estate brokerages around the nation and is partnering with a Canadian real estate brokerage to double the scope of his business. Partnering with Brookfield Asset Management, which works under Prudential Real Estate and Real Living Real Estate brands, the new name will be Berkshire Hathaway Home Services. Last year the combined brokerages did a sales total of $72 billion in 2011, $32 billion of it from Berkshire. According to BusinessInsider, the network is comprised of more than 53,000 agents in 1,700 locations across the nation. Says Brookfield CEO Bruce Flatt: “The strength of the Berkshire Hathaway name, coupled with the operational excellence of HomeServices and the franchising experience of Brookfield, positions Berkshire Hathaway HomeServices®as a leading real estate franchise in the U.S., building on our traditions of exceptional client service and innovation.” As MHProNews knows, Berkshire owns several companies involved in home construction including a brickmaker, a roofing supplies firm and a carpet company, as well as Clayton Homes, the largest producer of manufactured homes in North America.

(Image credit: Clayton Homes)

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