The Residential Real Estate Crash Index Message Board

From: Travis_Bickle	1/2/2007 10:12:24 AM
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The Lament of Lennar By Jim Cramer About this article: What a great day for Lennar to preannounce! Make no mistake about it; that was a preannouncement. Lennar's report, which included massive disposal of land, is replete with a "no bottom" statement. To which I say, no kidding, because Lennar was still expanding this past year. Still, this preannouncement, which is a third lower than what I was looking for, tells me that only some homebuilders are dancing on the bottom, a concept articulated by Bob Toll from Toll Brothers not that long ago. The timing of this Lennar report is interesting, to say the least. Obviously, the company looked at its book of business and decided, "Why wait until Jan. 17 to reveal the news?" But no one's home today, so it smacks of the kind of hidden stuff that we can't help be suspicious of. Lennar goes lower tomorrow. We just don't know how low. My... secure2.thestreet.com