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Lennar dates back to F&R Builders, a company founded in 1954 by Gene Fisher and real estate developer Arnold P. Rosen. In 1956, Leonard Miller, who later became the namesake of the Miller School of Medicine at the University of Miami, a 23-year-old entrepreneur that owned 42 lots in Miami-Dade County, Florida, invested $10,000 and partnered with the company.
In 1968, the company built 220 homes at an average price of $30,000. [3] In 1970, ... CalAtlantic was acquired by Lennar in 2018. [9] Criticism
Lennar shares are down about 20% this year with the S&P Homebuilders ETF off about 28% in 2022. The company reported gross margin on home sales at 24.8%, down from 29.2% from the prior quarter.
A look at Visalia's largest home builder and how BofA lost its crown in the Valley
To be sure, Lennar noted on its call that homebuyer demand remained strong thanks to a chronic inventory shortage. New orders increased 28% to 18,176 homes in the quarter, higher than the company ...
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