Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Warren Buffett is known for stocks, not house-flipping. He still lives in the Omaha home he bought in 1958 for $31,500 and has kept his real-estate footprint small compared with other billionaires. That frugal streak is part of the point here: he's never told people to avoid owning a home—he's argued that the 30-year fixed mortgage can be a powerful tool when used wisely. Back in October 2014, onstage at a ...