The housing crisis is rippling through the construction industry, and not just in the form of shrunken revenues. Lennar Corporation, the Miami-based home builder, is reducing the number of home plans it offers in an effort to lower construction costs and appeal to local consumers.
In a recent conference call, where Lennar reported that revenues for 2009 were down by nearly a third, the company's chief operating officer disclosed that the company was streamlining the number and type of models it offers to homebuyers.
The changes reflect a larger shift across the housing market. Gone are the McMansions of the easy-credit days. Small and efficient (such as the Lennar model pictured) is in.