This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Everyone knows the U.S. housing “recovery” has been resurrected on slippery ground. But now that we’re finally about to slip – big time – no one sees it coming… Then again, how could they? The numbers are incredibly…
All you have to do is look at a price chart of Lennar Corp (NYSE: LEN) to see the proof that the U.S. housing market is on the mend.
Since January 2012, shares of the Miami, Fl.-based new homebuilder have more than doubled.
In fact, since the industry nearly collapsed six years ago, new-home construction for builders like Lennar is now clearly on an upswing.
According to the March 2013 report from the U.S. Commerce Department, new home construction was on pace for more than one million units for the first time since the gaudy days of June 2008.
Much of this home-buying fervor can be attributed to a few important points:
1. A pent-up demand that has built up over the last six years,
2. Low inventories,
3. And an outrageously low interest rate environment thanks to the Federal Reserve.
The question now is whether or not the “Housing Bubble 2.0” still has legs, making Lennar Corp. a smart new buy with plenty of room to run.
Is Lennar Still a Buy?
Of course, evaluating Lennar on its own merits is a fine exercise in due-diligence.
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. This is a syndicated repost. The opinions expressed are those of Money Morning and the author, not those of the Wall Street Examiner. The Wall Street Examiner makes no representation regarding the accuracy or validity of the ideas…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Investors have taken comfort from the recent improvement in housing prices seen across the country. Shares of homebuilders, including Toll Brothers (NYSE: TOL), Lennar Corporation (NYSE: LEN) and the SPDR S&P Homebuilders ETF (NYSE: XBH), had been bid…