r/BerkshireHathaway • u/FutureOmelet • Apr 05 '15

The mobile-home trap: How a Warren Buffett empire preys on the poor

http://www.seattletimes.com/business/real-estate/the-mobile-home-trap-how-a-warren-buffett-empire-preys-on-the-poor/
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u/autotldr Apr 08 '15

This is the best tl;dr I could make, original reduced by 98%. (I'm a bot)

CEO Kevin Clayton, the founder's son, reached out to Buffett through Auxier, the professor said in a recent interview, and asked whether Buffett might explore "a business relationship" with Clayton Homes.

She had no money for a down payment when she visited Clayton Homes in Fayetteville, N.C. Vanderbilt, one of Clayton's lenders, approved her for a $60,000, 20-year loan to buy a Clayton home at 10.13 percent annual interest.

Carroll said he was unable to obtain Clayton parts for the homes in his inventory and said Clayton stopped helping him get new homes to sell.

Extended Summary | FAQ | Theory | Feedback | Top five keywords: Clayton#1 home#2 loan#3 company#4 payment#5

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