Builders are still in a “Glum Mood”..Gee Wall Street “How about Joe American”
Posted by shallis on July 19, 2010 · Leave a Comment
Ahead of the Bell: Builder Sentiment
Associated Press, 07.19.10, 06:39 AM EDT 
WASHINGTON — Builders are still in a glum mood about the housing market now that federal tax incentives have expired, a reading of the industry is expected to show.
The National Association of Home Builders' housing market index for July is expected to remain at 17, unchanged from a month earlier, according to the consensus forecast of economists surveyed by Thomson Reuters. Read the Whole story
It's amazing how during the Presidential Race and Campaigning all we heard was "Joe American .. Main Street…before Wall Street" .. Even Better Washington Saying " though Housing is important, we aren't too concerned"
Are we the only ones seeing the correlation between: violent swings on Walls Street and the ending of the Home Buyers Tax Credits?
Good Figure… Watching and listening to both markets play out reminds me of my favorite Stock Broker and Brother Patrick Shallis saying " The Fed doesn't dictate monetary policy…" Sure…"and Housing isn't the fuel to consumer confidence and long term stabilized stability and eventual growth" In speaking with many of the real estate brokers on the street, I wouldn't be surprised to see the Builder index below expectations today. Look for more "On the Street" translations.. If you have questions or comments we'd like to hear from you !
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