Day: October 18, 2022

Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows

Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows

It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in October after refusing to see what everyone else was seeing more months.. and what homebuyers were clearly feeling as prices soared along with mortgage rates and devastated affordability for most Americans. Against expectations of a small drop from 46 in September to 43 in October, the headline confidence index crashed to 38 – its lowest since the nadir of COVID-lockdown panic (that was worse than the weakest forecast of all economists surveyed)…

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