Housing Starts Reflect Anemic Multifamily Activity and an Underwhelming Single-Family Rebound
September construction activity was held back by surprisingly soft multifamily activity and a weaker-than-expected month for single-family starts. We expect that Hurricane Matthew will weigh on October's report, leaving less room to achieve our current outlook for 2016 residential construction. As a result, we've reduced our housing starts forecast to 1.15 million in 2016 from 1.19 million. Despite this haircut to our construction forecast for 2016, the long-term outlook remains bright. As mille...Lennar is a homebuilder in the United States, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. The company's homebuilding operations include the construction and sale of single-family attached and detached homes as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. The company operates under the Lennar brand name. The company creates and participates in joint ventures that acquire and develop land for its homebuilding operations, for sale to third parties or for use in the ventures' own homebuilding operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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