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Lennar Larest News

Lennar Latest News



Home builder Lennar profit drops 70%
Tuesday, 27 March 2007

Company scraps outlook as profit falls
Lennar's performance was a key factor for stocks on Tuesday, given the market's high sensitivity to housing and the troubles in the subprime mortgage arena. Futures on the S&P 500 index weakened immediately after the results were announced. U.S. home sales fell unexpectedly in February, data released on Monday showed, hitting their lowest level in nearly seven years and raising concerns the troubled housing sector had not yet hit bottom.

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Lennar Homes, Home Lemon Law & Buy it Back
Friday, 23 March 2007

Homebuyers May Get Lemon Law Protection
Imagine getting your dream home built just to find months down the line that it was coming apart. That's what happened to the Crump family, but without a law in place to protect homeowners, they said they're stuck with a faulty house. State lawmakers are pushing a bill similar to the automobile lemon law that would protect homeowners. Houston Democrat Senfronia Thompson filed House Bill 2721, which would require builders to fix problems in a new home or buy it back.

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Lennar in Big Touble over Toxic Levels
Sunday, 18 March 2007

Lennar sued over toxic levels
A development firm building 1,600 new homes at the old Hunters Point Naval Shipyard has allowed clouds of toxic construction dust to escape from the site, exposing neighbors and schoolchildren to potentially harmful, airborne asbestos, two company executives say. Lennar Corp., which is Mayor Gavin Newsom's choice to take over the environmental cleanup of the entire former San Francisco naval base as part of a plan to build a new 49ers football stadium, imposed a "code of silence" last year to prevent workers from reporting violations of state and city clean-air rules, contended Gary McIntyre, Lennar's project manager, and Clementine Clarke, the company's community liaison.

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Lennar Blog
Monday, 12 March 2007

SHALALA ON BOARD OF BUILDER SUED FOR POOR CONSTRUCTION
Donna Shalala is co-chair of the presidential group looking into shoddy care and maintenance at Walter Reed medical center  ...The owners of 29 houses in the Las Flores area near Rancho Santa Margarita are suing developer Lennar Corp. for $2.9 million, claiming the residences have defects because of faulty design and construction...

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New homes create headaches for homeowners
Monday, 05 March 2007

Several homes in Williamson County have defects. Builder is making repairs, but homeowners say that's not enough
Residents of the Legends of Hutto subdivision say some of their homes have cracks in the walls and other issues. Some of the families have had the problems fixed, but others are still waiting.Residents of the Legends of Hutto subdivision say some of their homes have cracks in the walls and other issues. Some of the families have had the problems fixed, but others are still waiting..."First they said it was the foundation, second defective trusses, and now it's only cosmetic," said Bourke's girlfriend, Conny Thibodeaux. Bourke's neighbor Eva Marie Cole and her sons stayed in a hotel for a week while repairs were made to their home. She said she had to hound the company to pay for the hotel upfront...Homeowners are "entitled to a home that's going to last," Ahmad said. "Believe me, this happens every day. The homeowners have to fight for everything they can get."

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Reckless Endangerment
BY: GRETCHEN MORGENSON
and JOSHUA ROSNER

Outsized Ambition, Greed and
Corruption Led to
Economic Armageddon


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