‘We’re in a housing recession right now,’ NAHB CEO says

#housing #recession #yahoofinance
National Association of Homebuilders CEO Jerry Howard joins Yahoo Finance Live anchors to discuss homebuilder confidence, the housing market slowdown, rising mortgage rates, and the outlook for the housing market.
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[frankcoffey]

When there is inflation most consumers can cope by cutting back on spending but you can't "cut back" on rent. Now with interest rates too high for most buyers there is no way to escape rent by buying a home. That has created a trap.

[theapplianceguru]

"If it costs less to build a house the builders will take less in profits." That's where he lost my support. Savings never get passed to the consumer. There were builders that destroyed buyers by pulling out of contracts just because they could sell the house for more money. People had sold their homes and builders left them out on the street. Don't matter if the material is 1$ or 50 cents if the builder can sell for top dollars they will.

[pauldewar]

This guy is just a mouthpiece for the big home builders

[jamesvengren]

Everyone is tired of prices being way out of proportion take of the prices and you will be were we’re supposed to be NOBODY BUY HOMES TILL PRICES COME DOWN

[Seanpfree]

Good! Blow it up and start over. 34 y/o wanting to start a family $115k/yr couldn't afford a home at 2.5% dang sure can't afford 6.5%.
Thanks FED👍Transitory

[normanoro]

Interest rate hikes aren't the ideal way to deal with the shortage of affordable housing. Unfortunately, the ideal monetary policy to spur growth in the supply of housing (ie, lowering interest rates) would exacerbate overall inflation.

[questionsanswers]

I just sold my house for 80k over asking.

[stephanienguyen]

NAHB CEO says - WRONG, people are buying houses like crazy or skyrocket with over asking prices (such as Australia, Canada, Switzerland, Europe) even poor countries such as Asia (China, Singapore, Thailand, Vietnam ???, his reports none sense.

[DanyCesc]

See that’s why we need younger blood making decisions, these old souls can only see the economy and future in the now, they don’t take in consideration the future or other factors.

[thescooterstore]

1% interest rate is a fantasy. 5% or a bit more long term is more realistic.

[ReidMewborne]

Well I hate this guy. Sounds like he just wants to make more money on houses. Not get prices down

[sinforoso]

How quick they are to declare a housing recession. Anything to put pressure on the FED to lower rates