Warren Buffett Just Bought This Housing Stock -- Is It Right for You?
The housing market is grinding to a halt. Rising mortgage rates and still-elevated commodity prices caused new single-family housing starts to decline 4% in November (the latest period), while residential permits tumbled 11% for the period. The National Association of Home Builders housing market index sits just above the lowest point hit during the onset of the pandemic.
So why did Warren Buffett's Berkshire Hathaway buy Louisiana-Pacific (NYSE: LPX), a leading manufacturer of building products, including engineered wood products, siding, and other products used in residential and commercial construction? And if Berkshire is buying, should you?
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Source Fool.com
