Exhibit 12.1

Lennar Corporation

Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

	Years Ended November 30,
	2012			2011			2010			2009			2008
Earnings:
Pre-tax earnings (loss)	$	222,114			97,974			94,725			(760,404	)		(565,625	)
Adjustments to pretax earnings (loss):
Fixed Charges		255,304			232,709			207,168			203,304			193,884
Interest capitalized		(127,668	)		(110,751	)		(111,056	)		(101,265	)		(120,700	)
Adjustments for earnings and losses of unconsolidated entities 50% or less owned entities		4,597			87,338			6,144			133,415			80,225
Previously capitalized interest amortized		87,032			72,320			73,522			76,599			102,763
“Earnings”	$	441,379			379,590			270,503			(448,351	)		(309,453	)
Fixed Charges:
Interest incurred	$	242,389			219,383			193,535			180,659			157,580
Interest component of rent expense (1)		12,915			13,326			13,633			22,645			36,304
“Fixed Charges”	$	255,304			232,709			207,168			203,304			193,884
Ratio of Earnings to Fixed Charges		1.7			1.6			1.3			—			—
Excess (deficiency) of earnings to fixed charges	$	186,075			146,881			63,335			(651,655	)		(503,337	)

(1) Represents a reasonable approximation of the interest cost component of rental expense (one-third of rental expenses on operating leases) incurred by the Company. The purpose is to estimate the amount of interest paid due to operating the majority of the Company’ facilities under operating leases.