Jack of All Trades: SKORE 12.16.2025
Lennar Sell reflects margin death spiral (17.0% Q4 worsening to 15-16% Q1 guide, down from 22%+ historical) as 6.2% mortgage rates and affordability crisis force 14% revenue spent on incentives, ASP down 10% to $386k, creating 50%+ earnings collapse despite volume growth