Feedback on your Buffett and Clayton Homes comments.
Reader comment on: Defending Buffett
Submitted by L. A. "Tony" Kovch (United States), May 21, 2015 14:58
Let me say, I'm new to your website. I found you via a Google alert, and your comments on the NYTimes regarding Clayton Homes and related is remarkably good if you have no connection to the MH Industry.
The rationale of the anti-Dodd-Frank reformers (which IMHO is a big motivator in the attacks against Buffett/Clayton Homes) is replied to in part much like you suggest. The regulations HARM home buyers and HARM those who already own manufactured homes.
Please allow me to share two links to make the points.
This by itself blows away the NYTimes, Seattle Times and related criticisms. It shows that the so-called consumer protections are actually backfiring. It pushes people into more expensive financing, or as your commentary suggests, denies people financing. We know this from our own "on the front line" sources.
Next, they are harming the value of those home owners who have homes under 20K in value. The cost of compliance is so great, it has caused lenders to pull out. The next article and video interview demonstrates those points.
Thanks for a remarkably well done commentary on this point. FYI, like you, there are things I'm not crazy about WB and BH on, we are independent, and take stances that are good for consumers and the industry, which is not a contradiction. On this topic, Warren and company are correct.
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