In a compelling discussion, Ed Wachenheim, Founder of Greenhaven Associates, dives deep into D.R. Horton, America's largest homebuilder. He explores how the homebuilding industry's business models have shifted over the years, revealing unique investment strategies and the competitive advantages of larger firms. Ed sheds light on the challenges faced by smaller builders and the evolving market for first-time homebuyers. With a fascinating look at financial dynamics and operational efficiencies, he shares insights that redefine homebuilders as manufacturers, not just real estate players.
