Lennar’s Stuart Miller Thinks That Miami’s Homebuilding Market Is A “Tale Of Two Cities”
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This interview is part of the “Tomorrow Lives Here” Conversation Series presented by Miami Business School.
–Lennar executive chairman Stuart Miller was born and raised in Miami.
-He also runs the country’s largest homebuilding company, which makes him uniquely qualified to talk about the future of South Florida’s housing market.
-In a wide-ranging conversation with Miami Business School Dean John Quelch, Miller talked about some of the biggest challenges facing his industry, the impact of the millennial generation on homeownership and why he thinks Miami is a “tale of two cities”.
–Lennar recently acquired CalAtlantic in a $5.7 billion merger that made the Miami based company the largest homebuilder in the US.
-Miller on the impact of the millennial generation on the housing market:
“Initially…the millennial buyer presented as very different. Every generation for the past decades has postponed getting married and having children a year, two years, three years later than the prior generation. But for the millennials it was even later. It was four, five and six years late. Some of that was just natural progression. Some of it related to the economic downturn but many speculated that the millennial generation would be very different than prior generations. In fact, now that they’ve started getting married and having children, we’re starting to see that the trends are very similar [to prior generations].”
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