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Buffett’s HomeServices of America Buys Alabama Real Estate Firm


Berkshire Hathaway Inc. (BRK/A) , the firm run by billionaire Warren Buffett , acquired a residential-real estate company in Mobile, Alabama , through its HomeServices of America Inc. unit.


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Asia Pacific +65 6212 1000 Follow Us Facebook Twitter LinkedIn Industry Products Bloomberg Government Bloomberg Law/BNA Bloomberg New Energy Finance Menu News Markets Insights Video Now Reading: Search Latest World Industries Science+Energy Technology Design Culture Graphics Pursuits View Politics Businessweek Stocks Currencies Commodities Rates+Bonds Magazine Benchmark Watchlist Economic Calendar Latest Game Plan Business Schools Small Business Personal Finance Profiles Watch Now Video Schedule + Shows Radio Events Buffett’s HomeServices Acquires Alabama Real Estate Firm Don't Miss Out — Follow us on: Facebook Twitter Instagram Youtube by Maryellen Tighe 4:37 PM EDT October 4, 2011 Oct4 (Bloomberg) -- Warren Buffett’s Berkshire Hathaway Incacquired a residential-real estate firm in Mobile, Alabama, through its HomeServices of America Incunit as the billionaire chairman prepares his company for a housing rebound Dauphin Realty, with four branches and 85 agents, will merge with an existing Berkshire-owned firm in Alabama, HomeServices said today in a statement published on its website. Terms weren’t disclosed A housing slump has undercut U.Shome values this year as foreclosures and unemployment of more than 9 percent weigh on consumer sentimentBuffett, 81, said today that a recovery is inevitable once the current supply of housing is used up The slump is “a necessary correction, but it is not a correction that’s over in a day or a week or a month,” Buffett said at Fortune magazine’s Most Powerful Women conference in Laguna Niguel, California“It will be over, there’s no question about it.” To contact the reporter on this story: Maryellen Tighe in New York at mtighe6@bloomberg.net To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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