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Lennar Corporation (LEN-B)

NYSE - NYSE Delayed Price. Currency in USD
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68.09+1.39 (+2.08%)
At close: 04:00PM EDT

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  • M
    Magic Eight Ball Says
    Another move up but, again, limited volume.

    House of cards.
  • R
    Ravi
    Investing in this stock is like gambling on whether the 10-year Treasure will be Up (on Black) or Down (on Red) on any given day!!!
  • R
    Ravi
    Yesterday the 10-year was at 2.75% or so at the start of the JPowell conference call. It has fallen by 9 basis points to 2.66% as of now. LEN was at 80.18 or so when the conference call started and it zoomed up by more than 4% ever since to > 84. A 9 basis point decrease in 10 year T-Note = $4 increase in valuation? Wonder when the irrational exuberance stops?
  • J
    Justin
    Bad news for Homebuilders on CNBC today. Tomorrow Fed meets. Another rate hike.
  • R
    Ravi
    At which point does this stock detach itself from how the 10-year T-Note is behaving and start trading on its own (deteriorating) fundamentals?
  • R
    Ravi
    Finally some weakness.
  • P
    Playmakers
    mind explaining how housing stocks are going up when the market is tanking and the fed is about to jack rates 3/4 of a point?
  • T
    The Party 🎉 Is Finally Over !
    60’s will be tested in 2022 just like 2008
    Read this article, homebuilders way too optimistic about future sales imo...
    “The U.S. housing market has gone cold”
  • T
    The Party 🎉 Is Finally Over !
    “Pending home sales fell 20% in June versus a year earlier, as mortgage rates soared”
    Wait till the rates rise further.... 3/4% hike today..
  • q
    quinsey
    This site just sent me a 68% winner. (http://traderspot.club)
  • M
    Mike
    Uh oh back in the 80s! Crank up flock o seagulls!!!
  • R
    Ravi
    I could not resist the temptation and bought some stocks here. I think I am doing a favor to the shorts here. Usually when I buy a stock, it falls :-)
  • R
    Ravi
    All home builders catching a drown drift today. All major ones (HOV, TOL, KBH, DHI) are down by more than 2% except Lennar which is down by about 1.70%.
  • J
    Justin
    Ivy Zelman on CNBC right now. She says more downturn is coming. Expect 60's and 50's. Sales are way down !
  • D
    Drew
    it'll trade invesedly with 10 yr yield until impact of high rates is fully understood in this housing market. new home sales next week should be another hint
  • v
    vanderark
    I am so tired of LEN doing nothing all day. Can you move??? I have been reading (http://Achieverspot.tech) for a month now and the stocks there actually go!
  • M
    Magic Eight Ball Says
    People, it's not just about the mortgage rates. Rates are climbing at a time when the typical person is seeing an evaporation of surplus cash flow due to the massive increases in gas, fuel oil, food and pretty much everything that they consume.

    A person who was prequalified for a $500k mortgage at the beginning of the year would have anticipated a payment of $2,135 per month to service the debt. If you take that same payment and fast forward it to last week, instead of a loan amount of $500k, that $2,135 per month would have gotten you a loan of about $362K. Has that person's income increased since the beginning of the year? Not likely as most people get raises once a year and they kick in at the beginning of the year. Not all but most. Underwriting criteria hasn't relaxed in that time and max debt to income ratios allowed by the lenders have either remained the same or been tightened to account for the fact that all of the peripherals cost eat up so much more of a person's income now. So that $650K house which was on the market back in February or March was looking at a pool of buyers who were pre-qualed at a max payment of $2,135 per month and knew they could count on paying for that house using a mortgage of $500K. Fast forward that $650K house to today's market and those same borrowers no longer have a $500K mortgage to use. Now it's $362K. And gas is $2/gallon more. Heating oil is $2/gallon more. Every trip to the supermarket is $100 more. Do they even feel comfortable going with that max payment? Where does the money for that $138K ($500k minus $362K) of lost purchasing power to make up come from? They were already having to come up with nearly $200K in cash to make that transaction work with a $500k loan. Will the shortfall of cash come from the house that they are trying to sell to the $300K - $400K mortgage tier of buyers who are facing the same problems, albeit in a lower income bracket? Maybe it'll come from liquidating that investment portfolio that's done so well over the past few months.

    If you think this won't have a major impact on the real estate market, you're only kidding yourself. Maybe you need to start reconsidering your sources for news and information.
  • T
    The Party 🎉 Is Finally Over !
    Sherwin Williams tanking Huge on warning !
    Fed raising rates another 3/4% today !
    The Sherwin-Williams Company (SHW)
    225.80-28.49 (-11.20%) <--- WOW wow Wow !
  • J
    Josh
    Can't believe this is up today after that inflation data which obviously will lead to min 75 increase by fed. I guess it's true that wall street controls the stock market.
  • R
    Ravi
    This should be an eye opener on where the Housing market is going. Rocket Companies , posted revenues of $1.39 billion for the quarter ended June 2022, missing the Zacks Consensus Estimate by 8.79%. This compares to year-ago revenues of $2.67 billion.