With buyers still scarce, big builder eyes home-rental market
The Wall Street Journal reports that as numbers of entry-level buyers continue to shrink, Stuart Miller, CEO of home builder giant Lennar Corp., says his company may start adding single-family homes for rent to their portfolio.
In what may feel like an overpriced housing market, some economists say that builders aren’t constructing the entry-level homes they should be focusing on, but are building pricey homes for buyers with exceptional credit.
Financial services company Raymond James has upgraded some of the nation’s largest home builders to outperform from market perform, which essentially tells investors to buy shares of the company.