What Jim Cramer thinks of Lennar's stock right now

Group 1 - The anticipation of rate cuts from the Fed initially led to a rally among home builders, but the expected positive impact on the housing market has not materialized as hoped [1] - Lenar, a major home builder, reported third-quarter results that indicated continued softening in market conditions and affordability, contradicting investor expectations for improvement [2][3] - Lenar's revenue was weaker than expected, with lower deliveries and average selling prices that only met expectations, resulting in a housing gross margin of 17.5%, which is 30 basis points lower than anticipated and 500 basis points lower than the previous year [3] Group 2 - Despite delivering more units than expected, Lenar had to offer additional incentives to boost sales, which negatively impacted their gross margin [4] - The company aims to reduce promotional activities in the future, but there is uncertainty about whether this goal can be achieved [4]