Lennar Cuts Outlook While Showing Record Profits
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The Lennar Corporation is falling into line with their biggest competitors. They are showing record earnings while projecting a slower future. The marketplace rewarded them with a 2.6 percent increase in their share prices today while recognizing the change in the marketplace.
I have the distinct feeling that Lennar and Toll Brothers will be the barometers in the housing market.
Lennar Corp., the third-largest U.S. homebuilder, said second-quarter profit rose 33 percent as it built more houses and prices gained. Slowing orders and higher cancellation rates may crimp earnings in the rest of the year.
Net income in the three months through May increased to $324.7 million, or $2 a share, from $243.5 million, or $1.48, a year earlier, the Miami-based company said today in a PR Newswire statement. The average estimate of 16 analysts surveyed by Thomson Financial was $1.86 a share.
“Even while market conditions have been changing, we have maintained a focused and orderly approach to managing our operations,” President and Chief Executive Officer Stuart Miller said in the statement. “However, we are experiencing slower new orders and higher cancellation rates. Consequently, the second half of the year will be more challenging.”
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
Absolutely agree with Jon, excellent site and very imformative. Keep reporting to us please! 
I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
