Warren Buffett is commonly regarded as the one of the greatest investors in American history. That's because Berkshire Hathaway ( BRK.A 0.56%) ( BRK.B 0.53%) stock has returned 19.9% annually since he took control six decades ago. Comparatively, the S&P 500 ( ^GSPC 1.12%) has returned 10.4% annually during the same period.

After a decade of stability, the housing market became more volatile when inflation and mortgage rates started surging in 2022. Rising housing prices and mortgage rates have raised the cost of homeownership,

Warren Buffett has warned shareholders his time is nearly up, talked up his successor, and taken steps to protect Berkshire Hathaway and his legacy.