Homebuilder Lennar Corp. said Thursday it managed to narrow its second-quarter loss, but CEO Stuart Miller gave a dour outlook for the industry, saying the housing market has yet to hit bottom and ruling out the prospects of a recovery this year.

“The housing market has continued to deteriorate throughout the first half of 2008. We expect that this trend is going to continue for at least the remainder of the year,” Miller told analysts in a conference call after the builder disclosed its financial report card.

Faced with the prospect of ongoing housing doldrums, Miller echoed the building industry’s call for the federal government to step in to help break the cycle of rising foreclosures, stagnating home sales and skidding home prices.

This entry was posted on Friday, June 27th, 2008 at 2:36 pm and is filed under Real Estate. Tags: federal government Lennar Corp. . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.