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.
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2 comments:
Building more homes? What are we supposed to do with all the empty homes we have now?
Yeah, look at all the houses popping up in and around Salisbury! The building department here is so busy it them a whole 24 hours to approve my last permit! This boom just can't be stopped!
So what do these arbitrary numbers mean? Are they some sort of percentage? Like 26% of builders think life is good and the other 74% think life sucks? I don't know. I'll wait until it can be explained to me in English. until then, count me in the 74% category!
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