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Don't look now but Berkshire Hathaway sold off all of it's shares of D.R. Horton
Posted on 3/1/24 at 8:38 am
Posted on 3/1/24 at 8:38 am
quote:
Back in August, Warren Buffett’s Berkshire Hathaway disclosed to the U.S. Securities and Exchange Commission that it had made investments in three major U.S. homebuilders: D.R. Horton, Lennar, and NVR.
In total, Berkshire Hathaway bought 5,969,714 shares of D.R. Horton, 152,572 shares of Lennar, and 11,112 shares of NVR. At the time, these shares were collectively valued at more than $800 million, with D.R. Horton shares accounting for more than $700 million of that total.
Fast-forward to 2024, and this month Berkshire Hathaway disclosed to the SEC that it had sold off its 5,969,714 shares of D.R. Horton—the vast majority of its homebuilder bet—by December 31, 2023.
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Posted on 3/1/24 at 8:40 am to stout
Do you know where they have reallocated those assets?
Posted on 3/1/24 at 8:40 am to stout
Blackrock will buy it back up.
Posted on 3/1/24 at 8:41 am to GumboPot
quote:
Do you know where they have reallocated those assets?
BTC and precious metals.
Posted on 3/1/24 at 8:42 am to stout
I don't even know if they're good investments but Lennar is building the ugliest damn neighborhoods I've ever seen in my area. I can't stand the prefab townhouses, may as well live in an apartment.
Posted on 3/1/24 at 8:42 am to stout
Not sure if this is an indication of some sort of problem he sees in home building or if he just wanted to cash in after a very nice gain.
Posted on 3/1/24 at 8:44 am to Doosh606
quote:
I can't stand the prefab townhouses, may as well live in an apartment.
I hate these too - so grateful I don't have to live in some phony shite "neighbourhood" like this
Posted on 3/1/24 at 8:45 am to SirWinston
I actually was looking at a nice-looking house in one of our country clubs this week and I ran the property history and DR Horton built it initially. I didn't even think the CC allowed them to build there
Posted on 3/1/24 at 8:48 am to stout
I mean, the ones built in town are horrendous and cheap looking so I get the pullback from Berkshire-Hathaway.
Posted on 3/1/24 at 8:49 am to stout
Pretty odd time to be selling off the national Homebuilder stocks because the Housing Market Index YOY for Feb is up for all markets. The HMI in 2023 for Feb was 42 and in 2024 it is 48. The last time it was this good was back in August of 2023.
Traffic for new prospective homebuyers is also up YOY (28 in 23 to 33 in 24). Sales of single family for next six months YOY in Feb (48 in 23 to 60 in 24) in the HMI index.
The homebuilders aren't slowing down and they are killing it. The only thing this could mean is that BH is selling off so it can pay out for the losses attributed to the multi-billion dollar class action lawsuits involving BHHS.
Traffic for new prospective homebuyers is also up YOY (28 in 23 to 33 in 24). Sales of single family for next six months YOY in Feb (48 in 23 to 60 in 24) in the HMI index.
The homebuilders aren't slowing down and they are killing it. The only thing this could mean is that BH is selling off so it can pay out for the losses attributed to the multi-billion dollar class action lawsuits involving BHHS.
Posted on 3/1/24 at 8:51 am to stout
DR Horton is garbage and a POS of a person.
Do your best to prevent DR Horton in your communities.
I could not imagine paying those high prices to live so close you cant pass a lawn mower between the houses.
Do your best to prevent DR Horton in your communities.
I could not imagine paying those high prices to live so close you cant pass a lawn mower between the houses.
Posted on 3/1/24 at 8:52 am to GumboPot
quote:
Do you know where they have reallocated those assets?
If they're smart they invested in Taylor Swift.
Posted on 3/1/24 at 8:53 am to MrLSU
quote:
Pretty odd time to be selling off the national Homebuilder stocks because the Housing Market Index YOY for Feb is up for all markets. The HMI in 2023 for Feb was 42 and in 2024 it is 48. The last time it was this good was back in August of 2023.
Doesn't DRH do their own in-house financing? That may be the issue.
Posted on 3/1/24 at 8:56 am to Crawdaddy
quote:
I could not imagine paying those high prices to live so close you cant pass a lawn mower between the houses.
Not to derail thread, but some people actually want this. Both sets of my grandparents built homes with little yard because they were getting older and didn't want any yard.
I personally would hate it.
To each their own.
This post was edited on 3/1/24 at 8:56 am
Posted on 3/1/24 at 8:57 am to SlowFlowPro
quote:
Doesn't DRH do their own in-house financing? That may be the issue.
All of the majors do their own in-house financing and they are cash cows for all of the home builders because they are buying down the rates for prospective buyers and no other lenders can come close to competing against them. It is definitely not related to the lending side because the nationals have the most rock solid lending operations in the country right now (i.e. there is demand due to lower pricing).
Posted on 3/1/24 at 9:00 am to stout
DR Horton has major Class Action Lawsuits pending or filed in La and other states for issues with building materials among other things and they can't build new homes until suits are settled, my subdivision is part of it so that might be the problem.
Posted on 3/1/24 at 9:08 am to grich31
They have some bigger developments that are affected in LA by the lawsuit. I think the Louisiana case has to do with materials that rot or are more conducive to mold in LA because of the climate. I think the thing I read mentioned a development in either Lafayette or Lake Charles, but there is a pretty fair sized one that started about 2 years ago in St Tammany in Lacombe
Posted on 3/1/24 at 9:13 am to stout
They're getting sued in Louisiana for their cheap homes and there was an article in the advocate yesterday
Posted on 3/1/24 at 9:22 am to stout
Probably because I drove up the cost for DR Horton on the neighborhood that catches a portion of my property by turning them in to TCEQ and then EPA for the environmental violations.
I tried to talk to someone at DR Horton, and the girl at their office was total B to me and said to call the proper authorities if you have a problem . I’ve been an environmental consultant over 20 years, so when TCEQ blew it off I sent all the pictures and videos to a contact at EPA and CCd TCEQ. Within a couple weeks there were water trucks for dust and silt fence going up, and a request to use my evidence in the enforcement action from TCEQ.
I tried to talk to someone at DR Horton, and the girl at their office was total B to me and said to call the proper authorities if you have a problem . I’ve been an environmental consultant over 20 years, so when TCEQ blew it off I sent all the pictures and videos to a contact at EPA and CCd TCEQ. Within a couple weeks there were water trucks for dust and silt fence going up, and a request to use my evidence in the enforcement action from TCEQ.
Posted on 3/1/24 at 9:22 am to SirWinston
quote:
I hate these too - so grateful I don't have to live in some phony shite "neighbourhood" like this
They put so much money into making the outside look "pretty" and it's all plastic garbage. Guarantee they'll be falling apart in 10 years or so.
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