The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: jpk1 who wrote (57588)	7/12/2006 6:56:58 PM
From: Elroy Jetson	Read Replies (1) of 306849

I'm sure Lennar, like other large builders, does not have a construction loan with a lender where they obtain advances on their loan for completing the framing on some homes. They're way beyond that. The last numbers I see (Nov 30, 2005) indicated Lennar had more than $1 billion in cash - with Accounts Payable and Accounts Receivable both standing at somewhat less than $1 billion. They had almost $8 billion in inventory backed by almost $4 billion in long term debt and $5 billion in shareholder equity. No Virginia, they don't have construction loans. .

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