Vigilante
Diamond Member
- Banned
- #1
Call it the Trump rally in homebuilding — not the stocks, but the sentiment of the builders themselves.
A monthly reading of homebuilder confidence spiked 7 points in December, its first measure done after the presidential election.
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose to 70, the highest level since July 2005. Fifty is the line between positive and negative sentiment. The index has not jumped by this much in one month in 20 years. It stood at 60 one year ago.
"This notable rise in builder sentiment is largely attributable to a postelection bounce, as builders are hopeful that President-elect Trump will follow through on his pledge to cut burdensome regulations that are harming small businesses and housing affordability," said NAHB Chairman Ed Brady, a homebuilder and developer from Bloomington, Illinois....
(Excerpt) Read more at cnbc.com ...
A monthly reading of homebuilder confidence spiked 7 points in December, its first measure done after the presidential election.
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose to 70, the highest level since July 2005. Fifty is the line between positive and negative sentiment. The index has not jumped by this much in one month in 20 years. It stood at 60 one year ago.
"This notable rise in builder sentiment is largely attributable to a postelection bounce, as builders are hopeful that President-elect Trump will follow through on his pledge to cut burdensome regulations that are harming small businesses and housing affordability," said NAHB Chairman Ed Brady, a homebuilder and developer from Bloomington, Illinois....
(Excerpt) Read more at cnbc.com ...
