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Gradual Rise in Rates Won’t Stop Housing Recovery: Lennar (video)
CNBC / June 12, 2013
The housing recovery is on a normal trajectory and gradual increases in interest rates won’t slow it down, Lennar CEO Stuart Miller told CNBC on Wednesday.
Miller, whose company is one of the nation’s largest homebuilders, said the notion that the most recent Case-Shiller report signals a growing bubble in housing is a “knee jerk” reaction by the investment community. He said the housing recovery is behaving as it should.
With interest rates at historic lows, Miller expects that as rates move up, slight increases “are not going to stop the progress forward” of the housing recovery.