US Homebuilder Confidence Surges To 6-Year High
Source: Associated Press
LOS ANGELES (AP) -- Confidence among U.S. homebuilders rose this month to its highest level in six years and many expect the housing recovery will strengthen in the next six months.
The National Association of Home Builders/Wells Fargo builder sentiment index increased to 40, up from 37 in August. That's the highest reading since June 2006, just before the housing bubble burst.
Any reading below 50 indicates negative sentiment about the housing market. The index hasn't reached that level since April 2006, the peak of the housing boom.
But a measure of builders' outlook for sales in the next six months rose to 51. That's up from 43 in August and also the highest level since June 2006.
Read more: http://hosted.ap.org/dynamic/stories/U/US_BUILDER_SENTIMENT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-09-18-10-01-15
RitchieRich
(292 posts)...for my job, and for my party.
Bernardo de La Paz
(49,010 posts)oldsarge54
(582 posts)Naturally the repubs will say (in no particular order), 1. The Government is cooking the books. 2. The liberal media is making this up (to include all news agencies except Fox), Freddie and Fannie will cause another worldwide depression. or 3. Can't be true.
Hassin Bin Sober
(26,330 posts)... on Chicago's north side being built out with new condominium starts.
4th law of robotics
(6,801 posts)It's not like we're getting any more land to put them on.
magic59
(429 posts)try to keep the flood under control and their losses off the books. I wouldn't put to much into new housing numbers. This economy, like so many before it, doesn't have legs.
Manufacturing is down, exports are down, unemployment is high, that is the foreword looking economy.
DallasNE
(7,403 posts)And was a fully expected cause and effect relationship following Bernanke's QE3 announcement targeting the housing market. Of course Romney has already said he would not reappoint Bernanke when his term expires in 2014 precisely because of his easing program. To Romney, then, this news is bad news.
Kingofalldems
(38,459 posts)They want a poor economy fail so the 1% can take it all.
MindPilot
(12,693 posts)And two homes on my block have sold after being on the market less than 60 days.
Things might be beginning to improve.