Tim Taylor is as Happy as can be……

Posted: November 16, 2011 in Uncategorized

Homebuilder confidence is up to it’s best levels since May of 2010.

http://www.bloomberg.com/news/2011-11-16/homebuilder-confidence-best-since-may-2010.html

Borrowing costs near a record low and efforts by the Federal Reserve to spur demand may be starting to bear fruit. At the same time, the prospect of more foreclosed properties returning to the market and competing with new construction means a sustained rebound in housing may be years away.

“The trends are pretty flat but not getting worse, so builders may be less depressed,” Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida, said before the report. “We expect there will be some marginal improvement at best, helped by lower mortgage rates”

 

Let’s hope the positive news out of the US will begin to overshadow the mess that is now Europe. Strong Earnings and Strong Housing can’t be a bad thing. Hopefully Angela “the impaler” Merkel and her merry band of Eurocrats can find some sense and get some measures passed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s