Lennar Homes Building 6500 Apartments With $1 Billion Investment In Rental Market

It seems even home builders are now getting into the rental market.  In their latest conference call, Lennar Homes announced they would be spending $1 billion over the next 3 years to build 6500 apartments.  CEO Stuart Miller explained Lennar’s desire to dive into the rental market, citing tight lending conditions and a desire to covert renter to future Lennar home buyers:

“There will consistently be a large group of people who simply can’t buy a home. The company is hoping that Lennar renters will become Lennar home buyers in the future.”