Warren Buffett investing money in three US homebuilding companies
Housing industry diminished by falling home sales and mortgage increases
Warren Buffett, Michael Burry are waiting for the market to crash: Robert Kiyosaki
The Rich Dad Company co-founder Robert Kiyosaki discusses the best places to invest in a down market on 'Cavuto: Coast to Coast.'
Warren Buffett’s Berkshire Hathaway is putting investment dollars into three homebuilding companies despite the industry’s sluggish recovery since the pandemic.
A filing with the Securities and Exchange Commission (SEC) released on Monday shows Berkshire Hathaway now owns roughly 5.7 million shares of D.R. Horton, over 11,000 shares of Ryan Homes' parent company NVR. Berkshire Hathaway also took in over 152,000 shares of the home construction company Lennar.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY INC. | 714,280.00 | +7,030.00 | +0.99% |
BUFFETT'S BERKSHIRE CONTINUES TO SELL SHARES OF CHINESE ELECTRIC AUTOMAKER
The investment announcement comes with a housing market weakened by falling home sales and mortgage increases.
Warren Buffett, Chairman and CEO of Berkshire Hathaway. (Kevin Dietsch/Getty Images / Getty Images)
WARREN BUFFETT CHARITABLE DONATIONS TOP $51B AFTER LATEST GIFT
On Tuesday, data compiled by the National Association of Home Builders/Wells Fargo Housing Market Index, which measures the pulse of the single-family housing market, showed confidence among builders in the U.S. housing market unexpectedly plunged in August as a spike in mortgage rates dampened consumer demand for new homes.
The index fell to a three-month low.
Houses under construction are seen in Mars, Pa. (AP Photo/Gene J. Puskar, File) (AP Newsroom)
HOME DEPOT CUSTOMERS GO BIG ON SMALLER PROJECTS
On Wall Street, shares of D.R. Horton are up on Tuesday, after rising roughly 13.5% the last quarter. Shares of Lennar and NVR are also up, after moving up around 10.7% and 5.1% over the last three months, respectively.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DHI | D.R. HORTON INC. | 163.50 | +1.66 | +1.03% |
| LEN | LENNAR CORP. | 169.17 | +1.10 | +0.65% |
| NVR | NVR INC. | 8,995.24 | +58.14 | +0.65% |
US housing needs more 'yes in my backyards' policy: Jim Tobin
National Association of Home Builders CEO Jim Tobin explains how local governments have tied up housing construction projects.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business' Megan Henney contributed to this report.