Home Builder Execs Discuss Florida Housing Market
Lennar Corp. and Invitation Homes’ CEOs said technology, single-family rentals and good partnerships can help address the housing shortage in Florida and across the U.S.
MIAMI – During the University of Miami's recent 2024 Real Estate Impact Conference, executives from Lennar Corp. and Invitation Homes talked about how technology, single-family rentals and good partnerships can help address the national housing shortage.
Stuart Miller, executive chairman and co-CEO of Lennar Corp., indicated that Invitation Homes' build-to-rent model could make housing more attainable. He added, "The [typical] journey is from an apartment lifestyle to a single-family lifestyle that is closer to parks and schools. But what Invitation has done is build to that middle ground for people who are not ready to buy but want a single-family lifestyle."
Invitation Homes CEO Dallas B. Tanner said that the company is expanding with "a pipeline of around $1 billion or $1.5 billion across 10 markets."
Florida is one of those markets, where Tanner's firm has "25,000 single-family homes" and is "very active" in Jacksonville, Orlando and Miami.
He added that homes have to be built at a price point that makes sense for the landlord and the developer, as well as the renter, which is where good partnerships come into play.
Both executives said their companies are looking at how technology can help them build more sustainably and cost effectively, whether that means 3D printed homes, prefabricated buildings, or modular home building.
Source: Orlando Business Journal (02/27/24) Bojnansky, Erik
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