Lennar posts 1st-quarter loss amid lower demand for new homes -...
Lennar Corp., one of the nation's largest homebuilders, said Thursday it swung to a loss in the first quarter as it absorbed charges to write down asset values and costs, while new home sales and prices sank ...
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TWg
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Well, all those who bought 300K homes should just walk away and leave the keys behind. Unless you can bare living in a 150K home while paying a 300K mortgage.
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DAS
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GOOD GO OUT OF BUSINESS YOU THIEVES
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Old School
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Lennar.... Poorly built, buy cheap labor, the price remains long after the quality is gone.
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Garbage Homes
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Lennar = Garbage homes = garbage profits.
Remember the massive sinkhole in Lennar Miramar that contained tons of sinks, refrigeradors,ovens, etc. placed there.
Not to mention the fiasco of hurricane Andrew.
Not very ethical. Poetic Justice.
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Mike
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Lennar is a perfect example of how not to run a company. Definitely not a company that anyone in south Florida can be proud of.
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John
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The scary thing is that the average price of the home they sold does not seem to include the incentives they had to provide to sell them. The average price they reported dropped roughly 25,000.00 but it says the average incentive was 40,000.00 +. If you factor in the incentives as part of the drop in the sales price (which is what it really is) then the homes probably sold for 60,000.00 less on avergae.
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TWg
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John wrote: The scary thing is that the average price of the home they sold does not seem to include the incentives they had to provide to sell them. The average price they reported dropped roughly 25,000.00 but it says the average incentive was 40,000.00 +. If you factor in the incentives as part of the drop in the sales price (which is what it really is) then the homes probably sold for 60,000.00 less on avergae. Yeah, they knocked-off almost 90K on a home I wanted to buy, but I walked away from it, I still was not satisfied.
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Mr International
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f^%$$ Lennar look at the junk they built. Crap all f it
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Debra
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Sure.. the goverment (which includes frugal people like myself) bailing out flippers and get-rich-quick-artists who are in the dumps for being stupid and greedy. Smells like classic socialism. Let them all rot with their worthless real estate, or at least agressively sue the lying, scheeming brokers who got them into the mess to begin with, It can be done, the basis being fraud and misrepresentation, as well as money laudering. I am moving ahead with my suit, even though it's a long shot. I was sold a $500,000 home three years ago that the broker (in front of witnesses) said would go up 20% a year. Right now I can't sell it for $250,000, and am being forced into forclosure. BOTTOM LINE,,, NEVER BELIEVE A LYING REAL ESTATE BROKER SAYS OR ANYTHING THE THIEVING NAR TELLS US.
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Judge it!
