Toll Brothers sees no end to home slump

CNN reports:

Toll Brothers became the latest builder to cut guidance as its founder said he sees no end of the deep slump in home building.

"We continue to look for signs that a recovery is imminent but can't yet say that one is in sight," said a statement from company Chairman and CEO Robert Toll. "We see some signs of pent-up demand when we have special sales events or new community openings. And in some markets, good weeks are interspersed amongst weaker ones."

It appears that this luxury home builder can't get bullish real estate just yet.