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  #1  
Old 01-24-2018,
aCjeO4DAys aCjeO4DAys is offline
 
Join Date: Mar 2017
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Booyah jimmy i saw your show the other day, you mentioned you liked Lennar just to let you know i will be closing on one of Lennar's homes this week oct 15th which i bought in Jackson New Jersey they had the home for sale for 810,000 it came with 100,000 in upgrades anyway they sold it to me for 518,000 because they can't get rid of them so i am thinking the bottom is not yet here in the real estate market
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  #2  
Old 01-24-2018,
Actokova Actokova is offline
 
Join Date: May 2017
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Default closing on one of Lennar's homes this week

If you call his show the hold time will be shorter than waiting for his reply here.
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  #3  
Old 01-24-2018,
Abrahamcoapsump Abrahamcoapsump is offline
 
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I just don't understand the bullish call by Cramer... I work for one of the top 10 builders and i don't think anyone understands how bad the numbers are really going to be over the next 3 to 4 quarters. Lennar is writing checks to sell houses... and is no longer selling preconstruction until it gets through it massive amount of spec homes they sold to investors over the last year. As for my builder, the new construction homes that we are selling are at gross margins that would not let us continue to stay in business ( 7-14%). So if our sales are down for new starts by over 60% and at horrible margins and the specs are being sold at cost or in lennars case below cost. How is a bullish call made? Oh... and did i mention quite a few builders purchased alot of land at very inflated prices over the last two years because they perceived the market holding steady for many years to come. I sound negative but really it's just realistic.
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Old 01-26-2018,
accomamoons accomamoons is offline
 
Join Date: May 2017
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With the news about foreclosures today on CNBC, its getting a little scary. I have friends that work in the industry and things are really, really looking bleak. The bottom in housing is going to probably be reached sometime in 2007 or early 2008. California and Las Vegas housing markets will show us the totality of the weakness as they have been some of the hottest markets. Exotic mortgages will bite people in the a$$.
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  #5  
Old 01-27-2018,
Abrokmaise Abrokmaise is offline
 
Join Date: Dec 2017
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The number of Californians who are significantly behind on their mortgage payments and at risk of losing their homes to foreclosure more than doubled in the three months ended Sept. 30, providing the latest evidence of trouble in the housing market, figures released Wednesday show.

Lenders sent out 26,705 default notices — the first step toward a foreclosure — during the July-to-September period, up from 12,606 during the same quarter in 2005, according to DataQuick Information Systems.
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