Berkshire Taylor Morrison deal puts vertical integration in focus

Berkshire Taylor Morrison deal puts vertical integration in focus

Berkshire Hathaway’s planned acquisition of Taylor Morrison has opened the door for us to explore a set of uber-themed questions: about homebuilders’ present and future valuations, leadership and scale, and to the question that public homebuilder boards may now be asking: whether to build toward greater scale or join it. A related question may be harder to answer, because it dwells in an only-time-will-tell black box. Which doesn’t mean it’s not…