HERMANN MISSOURI OKTOBERFEST 2010

HERMANN MISSOURI OKTOBERFEST 2010
HERMANN MISSOURI OKTOBERFEST 2010 - CLICK ON PHOTO FOR THIS YEARS SCHEDULE OF EVENTS

Hermann Missouri 175 Year Anniversary 1836-2011

Hermann Missouri 175 Year Anniversary 1836-2011
Hermann Missouri 175 Year Anniversary 1836-2011

Search This Blog

Breaking News Videos (mouse-over click-to-open)

Wall Street Protest Live Stream

News Archive

Weather Radar - Interactive - Zoom-in to Your Location

Donate To Keep This Site Alive

Tuesday, January 18, 2011

U.S. Homebuilders Remain Discouraged On Housing Market Outlook

__________________________________________________________________________________

Builders Still Down On Housing Market Outlook

__________________________________________________________________________________
January 18, 2011by  
The Associated Press

U.S. homebuilders remain discouraged over the prospects for improved home sales in the months ahead, unconvinced as yet that the economy will spur the kind of job growth needed to coax more buyers into the market.
The National Association of Home Builders said Tuesday that its monthly reading of builders' sentiment was unchanged in January at 16, where it's been since November.
While it remains the highest reading since June, any reading below 50 indicates negative sentiment about the market. The index hasn't been above that level since April 2006.
"At this point, housing remains on the sidelines of a weak economic recovery as consumers and builders wait for clear and consistent indications that jobs and economic output are reviving," said David Crowe, the trade association's chief economist.
Many smaller, private builders also continue to have a tough time getting construction loans and other financing, which could significantly slow the onset of a housing recovery, Crowe noted.
High unemployment, tighter bank lending standards and uncertainty about home prices have kept many people from buying homes, despite low mortgage rates and home prices that have fallen by more than half in some markets since the peak of the housing boom.
Builders also face competition from sharply discounted foreclosed homes.
The job market and unemployment rate need to improve before the housing can fully recover.
The latest builder sentiment report reflects a survey of 420 residential developers nationwide.
The reading for current sales conditions was unchanged at 16, while the index for sales expectations over the next six months stayed put at 25. The index measuring foot traffic from prospective buyers rose one point to 12.
New home sales have been hovering near historic lows since spiking briefly last spring thanks to a temporary federal tax credit for homebuyers. Between May and November, monthly sales of new homes in the U.S. declined or were flat four times. Even in the months when sales rose, the gains came off near-historic lows.
Many homebuilders remain unconvinced that a recovery is brewing this year.
Weak sales mean fewer jobs in the construction industry, which normally helps power economic recoveries. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the builders' trade group.
. Click Here to Read More.

__________________________________________________________________________________ __________________________________________________________________________________

Reciprocal links:
http://HermannHearsay.blogspot.com/(Hermann Area News, Commentary & Discussion)

No comments:

Post a Comment

Area Gas Prices Hermann and New Haven

HERMANN MISSOURI WEATHER 65041

Enter Your Locaton (below map) for Interactive Current Radar Map

Donate To Keep This Site Alive

NEWS

World News

Business News

...........

Top Ten Viewed Stories / Last 7 Days

Donate To Keep This Site Alive

.........

Hermann MO News TOP 10 Stories/ Last 30 Days

Donate To Keep This Site Alive

Top 10 Stories - All-Time (Oct. 14,2010 Inception)

Donate To Keep This Site Alive