The NAHB/Wells Fargo index of homebuilder fell for the 1st time since Sept. to 36 (50 or less means "poor"; the index rose from 35 to 36 in the West). Builders are apparently skittish about the spectacle of tightening mortgage lending standards. Toll Bros. CEO Rbt. Toll says that cancellations remain high. Reuters reports that housing's impact on jobs appears to be spreading beyond construction jobs closely tied to homebuilding.
This just in...Vail has ahousing affordability problem, and the local government plans to "approve new affordable housing rules that outline two methods for adding affordable housing to the denser areas of Vail Village, Lionshead and the West Vail mall area. They include requiring developers to provide housing for a certain amount of jobs they create and changing zoning to require that a certain percentage of new homes or housing be affordable." This sounds pretty vague?
The S&P/Case-Shiller Home Price Indexes are decelerating, especially in Detroit (-6.9%) and Boston (-5.6%).
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