Optimism among US homebuilders weakens

[DonViejo]

Source: Associated Press

WEDNESDAY, FEB 15, 2017 10:02 AM EST

ALEX VEIGA, ASSOCIATED PRESS

U.S. homebuilders are feeling a bit less confident this month, reflecting a dimmer outlook on sales in the months ahead and fewer would-be buyers dropping by builders’ sales offices.

The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday fell to 65 this month. That’s down two points from a revised reading of 67 in January. Readings above 50 indicate more builders view sales conditions as good rather than poor. The index has been above 60 since September and reached the highest level in 11 years in December.

The February number falls shy of analyst predictions. They expected the index to hit 68, according to FactSet.

Builders’ view of sales now and over the next six months also fell, as did a gauge of traffic by prospective buyers.

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Read more: http://www.salon.com/2017/02/15/optimism-among-us-homebuilders-weakens/

[SHRED]

1. I see lots of over-building here in San Diego area

Reminds me of the pre-2008 bubble burst.

[Guy Whitey Corngood]

2. Here we go.......... nt

[ffr]

6. Yep! Putin winning.

Thanks again red voters and those not bright enough to see when they're being conned.

[Guy Whitey Corngood]

7. Oh yeah. But they're the uber patriots and we all just hate freedom. nt

[bucolic_frolic]

3. The spike in prices soaked up those who can afford it

Cash, check, or credit card?

All others know what it means to pay it off for 30 years

[Achilleaze]

4. republican draft-dodger-in-chief Pee45 claims full credit

republican SCOTUS scores another FAIL

[nikibatts]

5. They have over built UNAFFORDABLE housing. I don't feel sorry for them or the developers who

shit on the poor and average working families. City planners and developers are just too greedy and bigoted to plan for housing at all levels. It could be done so easily and ghettos could be virtually eliminated as well as blighted rural areas. There is enough money out there to do this. Making exorbitant profits should not be desired over making excellent profits and providing ways to raise all ships. But the "wall" doesn't have ears or a soul.

[Judi Lynn]

8. Great post. Thank you. n/t