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US: Depressive housing markets keep sentiment down and Lennar’s earnings muted

Posted on 20 September 2011

Providing a sort of X-ray of the housing market, large U.S. homebuilder Lennar posted third quarter earnings before the bell on Monday, just as the national Association of Homebuilders released homebuilder sentiment numbers.
Housing markets remain depressed due to a massive overhang and backlog of foreclosed properties, keeping sentiment depressed and Lennar’s earnings under pressure; some “green shoots” seem to appear, though, as average prices increased marginally and expectations that economic growth will return in the second half of the year fuel limited optimism……………………………………….Full Article: Source


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