Check out the latest from the respected Economists of the National Association of Home Builders. Click the link at the end of the paragraph for a detailed report.
The U.S. and Global Recessions Are Deepening
The U.S. and global economies have been sinking deeper and deeper into recession, and current momentum is decidedly downward. (Details)
Consumer Confidence Plummets to Record Low
The Conference Board‘s Consumer Confidence Index fell sharply in February to its lowest level since the series began in 1967. (Details)
Housing Starts and Permits Sink to Record Lows
Housing starts and building permits have been falling for three years, and the downswing actually has accelerated in recent months – taking major measures to record lows. (Details)
Builder Confidence Holds Near Record Low as Sales Prospects Deteriorate
The NAHB/Wells Fargo Single-Family Housing Market Index (HMI) edged up by one point in February from the record low of 8 recorded the month before. The HMI has been essentially flat at a depressed level since last November. (Details)
House Prices Still Are Contracting Rapidly in Many Places
Major measures of national-average house price change were contracting rapidly as 2008 drew to a close and 2009 came out of the box. (Details)
Financial Market Conditions Still Are Quite Challenging
Financial market conditions still are quite challenging here and abroad, despite aggressive efforts by the Federal Reserve, Treasury, Congress, the White House and foreign governments to improve the functioning of national and global credit markets. (Details)
President Obama’s Policy Stool Is Under Construction
President Obama has talked in terms of a three-legged stool that must be assembled if the U.S. economy is to avoid a deep and protracted recession that could degenerate into a deflationary depression. The three legs are fiscal stimulus, financial stability and mortgage foreclosure relief. (Details)
Fed Chairman Bernanke Holds Out Hope for Near-Term Recovery
Federal Reserve Chairman Ben Bernanke delivered the Fed’s Semiannual Monetary Policy Report to the Congress on Feb. 24 to the Senate and Feb. 25 to the House of Representatives. (Details)
NAHB’s Forecasts Share Bernanke’s Hope
NAHB’s forecast places the end of the current economic recession around the end of 2009. We’re viewing 2010 as a recovery year that will lead to a multi-year economic expansion that will achieve sustainable rates of GDP growth, unemployment and inflation. (Details)