The homebuilder faces some near-term headwinds but should benefit from favorable long-term trends.
The Oracle of Omaha and his investing team put a number of Berkshire Hathaway's holdings on the chopping block during the December-ended quarter.
Lennar's CEO said on the company's first quarter earnings call that affordability is "stretched," noting that "we are definitely seeing a little bit more credit card debt and personal debt from the customer showing up in their applications."