WASHINGTON - Confidence among US home builders in May increased to the highest level since September, providing further evidence that the housing slump that started in 2006 may be closer to a floor....
Still, unemployment is at a 25-year high, foreclosures persist, and credit conditions are tight for builders, indicating a housing recovery will be slow....
Have you had enough smoke blown up your ass by the corporate media that hid a recession for ten months? I have.
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See my Business labels for more lies.
Update:
NEW YORK - Builders broke ground on the fewest homes on record in April as a plunge in condominiums and apartment buildings overwhelmed the second straight gain in starts on single-family dwellings.
Housing starts unexpectedly slid 13 percent to an annual rate of 458,000, led by a 46 percent tumble in multifamily starts, which tend to be more volatile, Commerce Department figures showed in Washington. Building permits, a sign of future construction, fell 3.3 percent to a record low of 494,000.
The plunge in apartments and condominiums also reinforces concern about the impact of the credit crunch on commercial real estate....
Home Depot Inc. and Lowe's Cos. this week both posted first-quarter earnings that exceeded analysts' estimates, underscoring signs of a turn in the industry.
Confidence among US homebuilders in May rose to the highest level since September, a National Association of Home Builders/Wells Fargo survey showed yesterday. Most respondents, however, still believe conditions are poor....
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And yet the MSM shoveled that s*** yesterday!
Sigh!
