Homebuilder confidence in U.S.has increased to the highest level since 2007.
The National Association of Home Builders/Wells Fargo index of builder confidence rose for a fifth straight month, to 29 in February from 25 in January, figures showed. Keynesian econometricians underestimated the increase. The median forecast of economists surveyed by Bloomberg News called for a rise of only 26.
The last time the builder confidence index increased five straight months or more was April through October 1995.
Further, a measure of sales expectations for the next six months advanced to 34, the best reading since July 2007, from 29. The gauge of buyer traffic rose to 22, the highest since June 2007, from 21.
Bernanke printed money is starting to circulate.
I wonder if tomorrow's CPI numbers will reflect this.
ReplyDeleteObama's plans are working dispite the evil republican obstructionists in congress doing everything they can to prevent a recovery.
ReplyDeletethe republican party of norquist tax cuts for the rich need to be voted out and put in jail for what they did to this country out of greed and their love for the 1%
Positive data, just in time for the election.
ReplyDeleteAs explained by Peter Schiff in his 2006 mortgage bankers speech..(around 1 hours mark)..public builders are getting sweet heart deals on land and are building houses to keep their stock prices high. I know a buyer for a large public builder. They are paying 10-20 cents on the dollar for prime lots. Small builders are all but non existent. Many large builders also can offer attractive in house lending.
ReplyDeleteHas anyone seen this similar post on ZeroHedge.com? How can two sites come to different conclusions on the numbers?
ReplyDeletehttp://www.zerohedge.com/news/point-out-housing-recovery-chart
The ZH post points to the fact that Mortgage Brokers index is down. Does one lag the other?
http://www.bloomberg.com/news/2012-02-15/paulson-says-euro-will-probably-unravel.html
ReplyDeleteIt will be interesting to see the effect of a Greek default