So will those 11,000 homes in Lennar’s 60%-off megasale show up on the MLS? Somehow I doubt they will.
I wonder if this was some kind of funny-money, hide the snake in your trousers kind of deal, or if Lennar really needed the money. I could see one of Lennar’s lender’s calling in a loan due to violation of a loan covenant or I could see some type of accounting shenanigans here. Hopefully some more details will come out.
