As Upton Sinclair once famously said:
"It is difficult to get a man to understand something, when his salary depends on his not understanding it."
But, after a couple of years of exuberant ignorance, Homebuilders have finally started to face reality - or admit reality - slashing their optimism about the US housing market dramatically...
Against expectations of a 67 print, NAHB's optimism index crash from 68 to 60 in November - itsbiggest drop since 2014 (to its lowest since Aug 2016) as the highest borrowing costs in eight years restrain demand, adding to signs of a cooling housing market.
Of course the 'hard' housing data has been collapsing for months...
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1 comment:
And I thought it was only Fruitland.
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