US July homebuilder sentiment at 16-year low -NAHB (1991 hmmmm)

[UpInArms]

Source: Reuters

NEW YORK, July 17 (Reuters) - U.S. homebuilder sentiment slid in July to its lowest since January 1991 as fallout from the housing slump and subprime mortgage crisis caused a glut of new homes, the National Association of Home Builders said on Tuesday.

The NAHB/Wells Fargo Housing Market index fell to 24 from 28 in June, the group said in a statement. Economists polled by Reuters had thought it would slip to 27. Readings below 50 mean more builders view market conditions as poor than favorable.

Read more: http://www.reuters.com/article/bondsNews/idUSNAT00294720070717

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"Ah'm gonna pick up whar ma daddy lef' off" GWB 2000 campaign promise

[AndyA]

1. So, that means...recession is on the way! Oh boy! If the Republicons

know how to do anything, it's steal money and put it in their cronies pockets, and bring on a recession. Yep, they can do that purdy well...

[BrokenBeyondRepair]

2. economies recover from recessions.. this will be much worse for those not prepared

the run for the door started months ago..

[kestrel91316]

3. This is probably why my asshat landlord, who was planning to demolish

the house I rent (and went so far as to apply for a demo permit) has NOT gone through with eviction, and instead sent me a notice of rent increase. The good news is that he stuck within the 4% increase allowed under LA's RSO. The bad news is that I would much prefer he give me notice, pay me my $9000, and let me move on. I want that money if he's gonna take my humble little abode and build a palace.......

[SpiralHawk]

4. "We have no confidence in the corrupt republicon cronies." - Homebuilders

"Shit, these republicon clowns have screwed up everything they touched. How the hell can we have confidence with these diaper-freaks running the country into the ground with their radical money-grubbing ways."

- Homebuilders