Lennar Corp Class A (LEN)

[Stock_Barber]

SBB,

I am of a contrarian opinion regarding the double dip. I believe without an additional stimulus package (like giving a drowning man a glass of water), the double dip is virtually inevitable.

The housing inventory backlog, which plunged in April as the tax credits were about to expire, jumped from 5.8 months to 8.5 months. And, this excess supply is exerting more downward pressure on pricing...

The median price of a new home fell in May to $200,900 (down nearly 10% since December). Home prices have not been this low since December 2003...

Even with all the stimulus aimed at the housing market, it still took builders a record median 14.2 months to find a buyer for a completed home in May...

The housing sector is broken, IMO. People are afraid to buy an asset they see will depreciate in value.

That said... how much of this is already priced in?