Lennari konverentsikõnelt:
They say overriding sentiment in their review was that the mkt has continued to become more and more competitive as inventories are managed, and there continues to be a great deal of downward pricing pressure through the use of incentives, price reductions, and incentivized brokerage fees. Co says that while the recent cut in interest rates by the Feds might begin a process of rebuilding confidence, it will most certainly not be a panacea for conditions as they exist. Although traffic has been increased by the use of incentives and mortgage buy-down programs, the co says that many of the deals that are struck have been prone to cancelation at the first sign of a better deal. While they are hopeful that the G.S.E, Fannie Mae and Freddie Mac, and the F.H.A will fill the void left by the mortgage mkt at large, they say they have not yet seen stability in the mortgage mkt either. They have stopped short of fire-selling their homes while others are clearing inventory. They have curtailed all land purchases where possible and have walked from option deals on land contracts. Says currently focusing on the fact that two factors will define their ability to be profitable in the future. They say their land position, rewritten to current market values, will contribute to profitibility when the market stabilizes, stabilizes; and second, co's over head is being resized to materially reduce production level. Have materially reduced the number of floor plans offered and the number of SKUs that they purchase.