Just yesterday homebuilders raged hard about how awesome everything was – sending their optimism index to its highest since the previous peak in 2005. It seems they are all talk and no action as November’s data for housing starts and permits collapsed (following the trajectory of mortgage apps).
Housing Starts crashed 18.7% MoM – near the biggest monthly plunge since the crisis peak in 2005.
***If you are a news addict, be sure to bookmark The Most Important News and visit on a daily basis for the very best breaking news, articles and videos from all over the Internet!***