Austrian-lites, who hold the odd view that we are now in a recession, are pounded once more.
U.S. builders’ confidence in the market for single-family homes jumped in December to the highest level in more than a decade, when the sector was near its precrisis peak.
The National Association of Home Builders reports its housing-market index rose to 70 in December, from a reading of 63 the prior month. This month’s reading was the highest level since July 2005. A number over 50 indicates more builders view conditions as good than poor.
This is not what a recession looks like.