Still Difficult for Most to Buy a Home, Lennar CEO Says

New York, NY, June 4, 2015 -- The housing market is improving but at a very slow pace, homebuilder Lennar CEO Stuart Miller said on financial news channel CNBC.

He said that for the average American it's still difficult to buy a home despite low interest rates because inventory is low and production is still tepid.

"The millennials have not jumped into the market as first-time buyers," he said. "Historically, it's always been an axiom of our business that when 20-year-olds move back home, it takes six to 12 months for everyone to realize it's a bad idea. This time around, that's not the case."