$Lennar(LEN)$ Housing has been predicting a recession for three years and the recession still hasn’t shown up. Strong payrolls may delay rate cuts, but they also mean people are employed, incomes are growing, and mortgage defaults remain contained. For Lennar, demand and cancellations matter more than the exact timing of the next Fed cut. If orders remain healthy despite higher rates, it suggests the housing market is adapting rather than breaking.
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