Lennar Corp , the nation's second-largest home builder, said on Thursday the U.S. housing slump will get worse before it gets better.
Visits to the company's various divisions revealed that demand patterns have not yet stabilized, Lennar said during its second-quarter earnings conference call.
Moreover, foreclosed homes are becoming even more of a threat to builders of new homes. More foreclosed homes, rather than fewer, are being put up for sale in many markets, making foreclosed homes Lennar's "toughest competitor," the company said.
And that leads to our Fast Money Reader Poll. When do you think the housing slump will finally turn the corner? Answer now and see what people are saying!
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