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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (5439)	9/19/2002 10:17:01 AM
From: MulhollandDrive	Read Replies (2) \| Respond to of 306849

three months declining housing starts.....could be the beginning of a trend <vbg>

To: yard_man who wrote (5439)	9/19/2002 2:01:33 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

Housing Starts Fall Again... meanwhile, the "National Association of Home Builders" claims their member's confidence is the highest since November 2000. NAHB is the builder's answer to the National Association of Realtors and pathological liars everywhere. Just think how wildly confident they'll be when home sales are down 50% - they'll be dancing in the streets. BUILDER CONFIDENCE JUMPS EIGHT POINTS IN SEPTEMBER Historically low interest rates on home mortgages and their positive effects on buyer demand boosted builders' confidence in the market for new single-family homes this month to its highest level since November 2000, according to a report released today by the National Association of Home Builders. NAHB's Housing Market Index (HMI) rose eight points to 63 in September compared to August. "Housing continues to exert a crucial, stabilizing force in this economy, thanks to solid home-price appreciation and low interest rates that are encouraging families to invest in homeownership," said NAHB President Gary Garczynski. "The Housing Market Index is now several points above the average for the first eight months of this year, reflecting the recent downshift in mortgage rates to the lowest level since the mid-1960s." The HMI is derived from a monthly survey of builders that NAHB has been conducting for nearly 20 years. Homebuilders are asked to rate current sales of single-family homes, sales expectations and traffic of prospective buyers for the next six months as "good," "fair," or "poor," where any number over 50 indicates that more builders view sales conditions as good than poor. All three of the HMI's component indexes rebounded strongly in September after slipping the previous month.