Homebuilder confidence has turned sharply downwards, suggesting more trouble ahead for housing.

This number is way below expectations and doesn’t bode well for near-term jobs…

There are elected representatives of the US Government, who actually feel (or have been paid well enough to lie and say they actually feel), that somehow, we’re going to stop home prices from falling and fix this country’s housing mess… by building more houses?!?! That’s smart!

From the U.S. Census Bureau: BUILDING PERMITS Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 606,000. This is 11.5 percent (±1.1%) below the revised March rate of 685,000, but is 15.9 percent (±1.3%) above the revised April 2009 estimate of 523,000. Single-family authorizations in April were [...]

Homebuilder confidence is up again, but the headline does not tell the real story. Please consider Homebuilder confidence at 2-1/2 year high in May The NAHB/Wells Fargo Housing Market index increased three points to 22, the highest since August 2007, the group said in a statement. It was the second straight month of gains in [...]