Jim Cramer on Lennar: “They Need Lower Interest Rates to Sell More Homes”

Lennar Corporation (NYSE:LEN) was among the stocks Jim Cramer discussed on Mad Money, along with the recent sell-off in the market. Cramer mentioned the stock during the episode and said:

When I was going around with Hassett, one thing I was thinking… I was thinking about Lennar. They need lower interest rates to sell more homes. And I said that to Hassett, I said, look, you know, we gotta move more homes. The home building is a big industry in our country, or at least it punches above its weight. It’s only 10% of the actual industry.

Lennar Corporation builds and sells single-family and multifamily homes, develops residential land, and manages rental properties for buyers ranging from first-time to luxury. During the April 21 episode, a caller mentioned that they bought LEN and TOL after hearing bullish comments from Cramer and added that LEN stock has been down. The Mad Money host responded:

You buy Lennar. I saw, I read through D.R. Horton, the largest home builder, I read through the conference call today. I said, holy cow. The combination of that fellow who was on the Hill today, Warsh, and this, you’re going to make money in the home builders. I think you buy some Lennar tomorrow, and Stuart Miller will not let you down, trust me.

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