Homebuilder Sentiment Goes Negative For First Time In 7 Months, Thanks To Bidenomics (Mortgage Rates UP 152% Under Biden)

Confounded Interest ^ | 09/18/2023 | Anthony B. Sanders

[Kaiser8408a]

Bidenomics, the economic gift to big donors and a boot up the backside of middle class and low wage workers, keeps on giving. Now its homebuilder sentiment falling to 45.

U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates.

Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. The decrease follows a 6-point drop in August. Anything below 50 is considered negative.

Mortgage rates are up 152% under Biden’s Reign of Economic Error. Note the big assist the economy got from Covid-related Fed stimulus (red line). The Fed’s balance sheet is still over $8 trillion.

Bidenomics and The Fed have started a fire that The Fed is unwilling to extinguish. Hey Jay, its not magic!

[Kaiser8408a]

Biden is crushing the life out of the economy.

[Tanniker Smith]

What 152% refers to is if the mortgage rate was about 3.2%, it is now about 8.0%

It has gone from 3.2 up another 3.2 plus another 1.6, so 3.2 + 3.2 + 1.6 = 8.0

[Sacajaweau]

cost my 60 year old daughter her very nice job as senior vp for a mortgage company

[WeaslesRippedMyFlesh]

"U.S. homebuilders are feeling pessimistic about their business for the first time in seven months"

lie

[GOPJ]

Bidenomics...Mortgage rates are up 152% under Biden’s Reign of Economic Error

Someone new paying off Hunter?

[unixfox]

Crush the housing industry, crush the auto industry, crush the oil and gas industry.

Don’t be surprised when the economy as a whole gets crushed as well.

[Organic Panic]

This is by plan forcing builders and cities to build high density housing in the ‘burbs. I just drove through a neighboring city and there was endless construction of multi level townhomes and apartments. As Obama stated years ago he wants to end private home ownership and get low income in nice neighborhoods (not his of course). And that is happening everywhere. All crappy built apartments and shared wall townhomes.