Tue Sep 18, 2012, 10:50 AM

Purveyor (13,177 posts)

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

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9 replies	Author	Time	Post
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

Response to Purveyor (Original post)

Tue Sep 18, 2012, 11:03 AM

RitchieRich (234 posts)

1. Great news!

...for my job, and for my party.

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 11:11 AM

Bernardo de La Paz (7,142 posts)

2. Democrats: more than twice as good for the economy as Republicans: chart

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 11:16 AM

oldsarge54 (582 posts)

3. Naturally The Repubs

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.

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 11:17 AM

Hassin Bin Sober (8,607 posts)

4. That explains in part why I have been seeing vacant lots here...

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

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 11:23 AM

4th law of robotics (6,801 posts)

5. Should we really be building more homes when we have so many empty ones?

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

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Response to 4th law of robotics (Reply #5)

Tue Sep 18, 2012, 02:09 PM

magic59 (429 posts)

9. Banksters are holding on to a lot of foreclosed properties

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.

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 12:01 PM

DallasNE (2,930 posts)

6. This Is The Bernanke Bounce

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.

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 12:04 PM

Kingofalldems (11,046 posts)

7. Republicans will not like this one

They want a poor economy fail so the 1% can take it all.

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Response to Purveyor (Original post)

Tue Sep 18, 2012, 12:25 PM

MindPilot (10,789 posts)

8. My house is up 30k+ in the past 6 months

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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