Does anyone care about the housing market anymore?
This morning’s new housing starts number for April was awful; 11% lower
than March and well below the expected number. The housing market is
truly in the dumps.
homebuilder’s sentiment index has a mid-point of
50. Any reading below 50 is considered poor. For April, the index
registered 16 — for the second month in a row.
The chief market economist at TD Securities, Eric
Green, summed it up perfectly in a Bloomberg article: