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Homebuilder Confidence Drops To 5 Month Low
NAHB sentiment dropped to its lowest since June (after hitting 8-year highs just 3 months ago). This is the 3rd miss in a row as a huge rebound in prospective buyer traffic (read hope) in the NorthEast seemed to save the data from a fate worse than death. The prior print was revised down from 57 to 54 as it appears for the 3rd time in 20 years, the exuberance in realtor confidence is shown to be a false flag...
NAHB misses for 3rd month, drops to 5 month lows...
"saved" by miracle of HOPE in the NorthEast...
But it seems the 3rd time is not the charm for the hope addicted...
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I THINK SALESNUMBERS OF CRACK WILL LOOK ABOUT THE SAME ON A CHART....
Phew, thank fuck there are no pictures of that Fugly Yellen in this post. I can't take anymore of that god aweful ugly bubble head.
Oh and BTFD, BTFATH!!!
We have enough firewood for this Winter.
This ought to be good for another 100 S&P points.
but, but, but, but...Bitcoin! and 16,000 and 1,800! c'mon...that's just not fare...
How can you buy a home when your new Obamacare rate is more than your house payment???
well.... like Obama would say...
WE TAKE CARE OF OUR OWN NO MATTER THE COST!!!
so... every time you pay... think of Obama's own crowd....
and remember how he took care of them...
and feel proud...
ONE FOR NONE, ALL FOR ONE!!!
Bullish, means much more QE. More to bid up stocks.
Like It's like a Wonderful Life on Wall Street.
Every time there is bad news it adds several ponts on the DOW and S&P.
And takes them off gold and silver, double bonus!!!
Philly housing index is well below its 2006 highs and has turned down once again.
http://bullandbearmash.com/chart/philly-housing-index-daily-moves-channe...
There has Never been a better time to buy!!!
That NAHB graph sort of looks like this Fed graph.
http://research.stlouisfed.org/fredgraph.png?g=oyu
Anyone think that the wave trend in employment level looks like it is stalling? Next few months data will be very crucial.
When the nominal cost of houses, stawks, diamonds in fiat is all b.s., it seems the have-nots just don't want to play. Is that variable built into the model, Ms. Yellin? What are the consequences to tax revenues, GDP and labor force participation?
Is this little blip all they have to show for 5 years of ZIRP and QE ?
The real estate market is zombified.
Even the 73 year old man (who claimed he still skis over 100 days a year and who did look healthy and in shape for his age) I talked to at the bar last night realizes we're up for a crash.
Why was I talking to a 73 year old man? Well he was chatting up my woman before I got there and I had to sit between them. Gotta watch those old dudes.
Other topics of discussion talked about teaching (he was down there for his grandson's lacrosse championship or something) and how it's a huge scam, how property taxes keep going up to pay for it, and how quality is horrible. Of course the girl is a (brand new) teacher so I had to really hold back on the comments, but I let the old man rip away.