A Hunterbrook Media investigation published Oct. 2 says Millrose Properties, a company Lennar split off in early 2025, bought more than 700 finished Lennar homes across at least 51 counties in 15 states, worth an estimated $200 million, in about a month. Millrose appears to be renting many of these homes, possibly at a loss, even though it was originally set up to hold land for Lennar. On Oct. 9, investors Leon and Sylvia Rubenstein filed a proposed class action against Millrose, its CEO and its CFO, alleging misleading statements; none of the claims have been proven in court. The report argues that without the Millrose sales, Lennar would have missed its delivery target, after missing four of five third-quarter targets, while Berkshire Hathaway bought about $350 million of Lennar stock to lift its stake above 10%. Hunterbrook is affiliated with an investment firm that was betting Lennar and Millrose stock would fall.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: The US housing market just took a turn : Unusual home sales trigger alarm and a big lawsuit . Is your nest egg exposed ?
Read the original on aol.com ↗
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