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Purveyor

(29,876 posts)
Tue Sep 18, 2012, 10:50 AM Sep 2012

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

9 replies = new reply since forum marked as read
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US Homebuilder Confidence Surges To 6-Year High (Original Post) Purveyor Sep 2012 OP
Great news! RitchieRich Sep 2012 #1
Democrats: more than twice as good for the economy as Republicans: chart Bernardo de La Paz Sep 2012 #2
Naturally The Repubs oldsarge54 Sep 2012 #3
That explains in part why I have been seeing vacant lots here... Hassin Bin Sober Sep 2012 #4
Should we really be building more homes when we have so many empty ones? 4th law of robotics Sep 2012 #5
Banksters are holding on to a lot of foreclosed properties magic59 Sep 2012 #9
This Is The Bernanke Bounce DallasNE Sep 2012 #6
Republicans will not like this one Kingofalldems Sep 2012 #7
My house is up 30k+ in the past 6 months MindPilot Sep 2012 #8

oldsarge54

(582 posts)
3. Naturally The Repubs
Tue Sep 18, 2012, 11:16 AM
Sep 2012

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)
4. That explains in part why I have been seeing vacant lots here...
Tue Sep 18, 2012, 11:17 AM
Sep 2012

... on Chicago's north side being built out with new condominium starts.

 

4th law of robotics

(6,801 posts)
5. Should we really be building more homes when we have so many empty ones?
Tue Sep 18, 2012, 11:23 AM
Sep 2012

It's not like we're getting any more land to put them on.

 

magic59

(429 posts)
9. Banksters are holding on to a lot of foreclosed properties
Tue Sep 18, 2012, 02:09 PM
Sep 2012

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)
6. This Is The Bernanke Bounce
Tue Sep 18, 2012, 12:01 PM
Sep 2012

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.

 

MindPilot

(12,693 posts)
8. My house is up 30k+ in the past 6 months
Tue Sep 18, 2012, 12:25 PM
Sep 2012

And two homes on my block have sold after being on the market less than 60 days.

Things might be beginning to improve.

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