A Nasty Hangover for Homebuilders

Lennar becomes the latest industry player to announce big writedowns on inventory as the housing slump continues

It was a rude New Year greeting for housing-market optimists. Homebuilder Lennar Corp. (LEN) warned on Jan. 2 that it will have a sharply lower than expected profit during the fourth quarter, as the Miami-based concern struggles in a slowing market.

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