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Builder Sentiment Drops, Home Depot Beats, Buffett Buys
For the first time this year, US homebuilder sentiment declined.
After dropping every month in 2022, builder sentiment inflected to post seven straight gains amid robust demand for new construction. But a confluence of factors, including and especially the recent rise in mortgage rates, conspired to dampen the mood in August.
"Rising mortgage rates and high construction costs stemming from a dearth of construction workers, a lack of buildable lots and ongoing shortages of distribution transfor
H-Man, methinks apartment conversions to condos will alleviate housing affordability. While you can’t buy a $400,000 home, you can buy a $200,000 condo with a 7% mortgage. In Florida we have new apartments going up on every street corner.