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[ad_1] National homebuilding titan Lennar is comfortably profitable, but company executives lament that a struggle to procure construction materials keeps them from doing more. “The supply chain for construction is significantly stressed and that will continue for the 4th quarter and beyond,” said Stuart Miller, chairman of Lennar during a company earning’s call Tuesday. The call reported on Lennar’s earnings for the months of June, July, and August. The Miami-based company tallied $6.9 billion in total revenue with 94% of that total coming from its home-building arm. Lennar delivered 15,200 homes onto market in those three months, with the average sale priced at $428,000. The company reported $1.4 billion in net earnings for the quarter, a figure that compares favorably to $666 million the company made in the same quarter last year. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Lennar builds big profits, but still has complaints appeared first on HousingWire. [ad_2] Source link

[ad_1] It’s been raining a lot the past week. So we spent a lot of time inside as a family as a number of different things on the schedule got cancelled because they were supposed to be outdoors. I found them outside watching a show together on the screened-in porch. She loves to play with our podcast equipment! Some friends and I went out for axe-throwing, a first for me. This was my third attempt. But don’t worry, I threw plenty of duds, too! She is obsessed with Theo the hedgehog and wants to get him out so she can hold him multiple times a day. (She is also really into bugs. Watch this video for proof.) After dinner often looks like this for me. And I wouldn’t trade it for the world. He’s been with us for six months and he has been such a gift to our home and our lives. I bought frozen okra because it was marked down and a number of people said I had to try using it in a smoothie. This morning, I made a peanut butter, banana, cocoa smoothie and snuck it in and I didn’t think you could really even taste it at all! One thing I learned is that you need to put the frozen okra in the blender first with your milk or liquid and blend it up really well before adding the other ingredients. His hair keeps growing so quickly — we had to get it cut for the second time this week because it was getting so shaggy! It is a sign of nutrition, so we are just so thrilled that it’s growing so well. He also got his first tooth this week!! He also learned how to hold himself up with straight arms this week — something we’ve been working hard at in therapy. This girl just loves life — and constantly keeps us laughing! She loved the okra smoothie and is still sporting some of it in her pictures. [ad_2] Source link

[ad_1] Democrats' bill to raise U.S. debt limit clears first House hurdle [ad_2] Source link

[ad_1] The company is planning to offer a slew of products catering to hair and body care needs exclusively for urban male consumers. The Chennai-headquartered firm also unveiled the first range of products in the shampoo category. [ad_2] Source link

[ad_1] On Tuesday, the U.S. Census Bureau reported that housing starts hit 1,615,000 for August and housing permits came in nicely at 1,728,000. These data lines beat expectations, and we had slight positive revisions to the previous months — overall, a good report on all fronts. I have always been mindful that the month-to-month housing starts data can be wild, both positive and negative, so the trend is what matters the most. The movement says slow and steady is bringing sexy back to the housing data, and the wild action we saw due to COVID-19 is moderating. Single-family starts have been slowing recently to move along with the moderation in new home sales and the rise in monthly supply. However, a lot of housing data was going to moderate from the massive distortion COVID-19 created in the data lines. The key is always knowing the difference from fundamental weakness in the data and what is returning to a normal base from an extreme move. This is why I believed it was vital for me to discuss the fact that housing data was going to moderate and be careful not to read too much in that moderation. Unfortunately, our housing crash bros sounded the alarm too early again when they saw the decline in many housing data lines from their recent COVID-19 peaks. This is very common as this sensitive lot tends to believe they’re Wile Coyote, and every weakness is sending our friend to hold up the sign that says That’s All Folks before falling down a cliff. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Housing permits hold the key for economic expansion appeared first on HousingWire. [ad_2] Source link

[ad_1] Don’t miss this great deal on my favorite Living Proof Dry Shampoo! If you’ve been following for any length of time, you know that I’m a BIG fan of Living Proof Dry Shampoo! In fact, they’re a big part of why I’m able to only wash my hair once per week. So I was really excited that Living Proof recently reached out and asked if I’d like to offer my audience an exclusive deal! For the next 24 hours only, you can get 25% off everything on their site with code MSM. Plus, you’ll get a FREE can of dry shampoo when you spend $65! This is a great opportunity to save on Living Proof brand. Valid through 9 a.m. ET tomorrow, September 22nd. [ad_2] Source link

[ad_1] General Mills, KB Home, FOMC Statement: 3 Things to Watch [ad_2] Source link

[ad_1] Bankers had sought takeover bids in July, and the Ahmedabad-based CFM ARC is understood to have put in a `825-crore bid for the company, which owes its lenders Rs 2,116 crore. [ad_2] Source link

[ad_1] A full one-third of the compensation paid to non-controlling shareholder real estate CEOs is variable, according to the 2021 RealTrends Brokerage Compensation Report. This is up considerably from 2016, when the last report was published. “A great thing happened over the past five years,” says Steve Murray, senior advisor to RealTrends. “Brokers have shifted to more variable compensation based on performance. Non-controlling CEOs are getting bonuses based on brokerage profitability.” That’s true in many of the leadership positions at a brokerage today. Regional sales managers, general sales managers and office sales managers have a much higher variable compensation — earning bonuses and benefits — than they did when RealTrends published this report in 2016. Breaking down the numbers The RealTrends Brokerage Compensation Report offers a compensation analysis for 12 leadership positions within a real estate brokerage firm. The report is broken down by region — Midwest, Northeast, Southeast, West — as well as size of the firm. In the survey, large firms have $54 to $400 million in gross commission income (GCI) and 850-1,700 agents. Medium-sized firms have $37-$53 million GCI and 390-415 agents, and small firms have $4 to $28 million GCI and 174-350 agents. “When we started publishing this report in 2001, we found that variable compensation for sales managers, who are focused on recruiting, was about 15% to 20% of their salary,” says Murray. “So, they had a relatively high base pay. How do you expect them to perform in certain measurable areas like recruiting and production? In the beginning, compensation wasn’t structed that way. The good news with this current survey is that it’s changing.” Sales managers’ comp hasn’t changed much Compensation for sales managers as a percentage of gross margin hasn’t changed much since RealTrends first did this survey in 2002. The national average is 9.9% of gross margin, with a high of 16.5% found in the Southeast region. Medium-sized firms paid about 12.6%, while small brokerage firms paid about 9.2%, the lowest of all sized firms. When you look at sales managers’ compensation as a percentage of gross margin, it is highest among medium-sized firms. Regionally, sales managers’ compensation is highest in the Southeast. But, in terms of total dollar compensation, the West region is the highest and large firms paid the most in terms of actual dollars. Higher base, lower bonus One area where variable compensation hasn’t changed, however, is that of chief marketing officers (CMO) and chief technology officers (CTO). Bonus compensation as a percentage of gross margin was surprisingly low, possibly because performance for these positions is much more difficult to measure compared to sales managers. Other positions where bonuses make up a much lower percentage of compensation include human resource director, director of training and in-house legal counsel. For chief financial officers (CFOs), the best place based on compensation was in the Northeast region, but pay was nearly equal to those in the Southeast region. Large firms, of course, paid out the most in terms of actual dollar compensation. Chief Marketing Officers/Directors of Marketing were paid 1.2% of gross margin on a national average basis. The Western and Southeastern regions both clocked in at 1.5%. This data was pulled from the 2021 RealTrends Brokerage Compensation Report. The full report is available to HW+ members. To dig into all the numbers, including base, bonus, benefits broken down by region and brokerage size, go here. If you’re not a member yet and want access to the report, go here to join HW+ The post One-third of real estate CEO comp is variable, up from 2016 appeared first on HousingWire. [ad_2] Source link

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