Homebuilders are optimistic... When you career relies on confidence, what more would one expect? But in this case, despite some weakness in current data and stangant buyer traffic, the HANB sentiment index surged to new cycle highs - at the highest since Oct 2005 - thanks to a surge in "futures sales expectations." Seems to us like betting on homebuilders' ability to see the future, given 2006 onwards is lkike believing Yellen has everything "contained" this time too...
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All about future sales expectations (because actual sales have tumbled)...
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Just keep hoping...
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So what is the spin following this great data? It is so great, it will force the Fed to keep rates.... low
#NAHB [6] now the highest since Oct 2005 (68). Data likely to keep #Fed [7] on hold as #economy [8] needs low rates
— Joseph A. LaVorgna (@Lavorgnanomics) October 19, 2015 [9]
