“Lennar Chief Executive Stuart Miller, citing rising foreclosures and unemployment along with sagging consumer confidence, said the industry needed government help. "With the U.S. housing inventory growing in excess of absorption and limited credit availability, the prospect of further deterioration in the home building industry will likely become reality absent federal government action," he said. RELATED LINKS Housebuilding Giants on the State of the Sector New Home Sales Fall 2.5% Real Residential Rubble "We are hopeful that the federal government will acknowledge the need for further reform and will institute programs designed to stabilize and facilitate the recovery of the housing market," he added. The U.S. Senate was expected this week to approve the biggest government program yet to tackle a deep housing market slump, but a lone Republican lawmaker has vowed to block the bill until he gets his way on renewable energy tax credit legislation. ”
