Good News!

[LoneLaugher]

Confident builders make for strengthening economies.

Homebuilder Confidence Jumps in July

 

[Mad Scientist]

Homebuilder Confidence doesn't mean anything.

Actual Economic Activity has meaning.

The Economy is contracting.

 

[SteadyMercury]

Homebuilder Confidence doesn't mean anything.

Sure it does. Home construction is a great economic driver, if builders are confident in sales it implies there will be more building, which is a good thing. I'm not saying it the only economic indicator that matters, or the best macroeconomic gauge of the US economy, but it certainly means something and is a positive thing.

Furthermore the economy isn't contracting, it contracted in the first quarter but most estimates for Q2 growth are around 3%.

 

[Mad Scientist]

Homebuilder Confidence doesn't mean anything.

Furthermore the economy isn't contracting, it contracted in the first quarter but most estimates for Q2 growth are around 3%.

The Economy contracting in the 1st quarter means the Economy is contracting.

Plus the Government can put whatever number they want out there then revise it downward after most people have forgotten.

Ads they did in the 1st quarter.

 

[Mad Scientist]

Sure it does. Home construction is a great economic driver, if builders are confident in sales it implies there will be more building, which is a good thing. I'm not saying it the only economic indicator that matters, or the best macroeconomic gauge of the US economy, but it certainly means something and is a positive thing.

The US has a Service Economy and their wages are being cut to conform to ObamaCare rules. You telling me these minimum wage workers are buying houses? Because if they are then it means that Bankers are desperately trying to re-inflate the Housing Bubble, and know how THAT ends.

Lets say the "confidence" is warranted and people are building houses. Who are buying these houses? Americans? Or foreigners?

Got any data as to who is buying? Because if it's the Chinese, Russian and Brazilians buying, as they are in London, then it doesn't really mean shit for Americans.

 

[SteadyMercury]

The Economy contracting in the 1st quarter means the Economy is contracting.

Lol no it doesn't, we are in Q3. You don't know what the word "is" means.

Plus the Government can put whatever number they want out there then revise it downward after most people have forgotten.

Ads they did in the 1st quarter.

Sometimes they revise it up, sometimes they revise it down. Such is the nature of giving an official estimate when more data remains.

 

[SteadyMercury]

The US has a Service Economy and their wages are being cut to conform to ObamaCare rules. You telling me these minimum wage workers are buying houses? Because if they are then it means that Bankers are desperately trying to re-inflate the Housing Bubble, and know how THAT ends.

Hmmm who to believe about construction, the people who build houses or some guy speculating that Obamacare's impact on wages means people can't buy houses. I'll go with A, thanks.

Got any data as to who is buying? Because if it's the Chinese, Russian and Brazilians buying, as they are in London, then it doesn't really mean shit for Americans.

Oh yeah I forgot, when a guy from London buys a house in the US it magically doesn't involve workers in the US actually building it, getting paid, paying taxes, using materials, all those plumbers electricians carpenters roofers cement guys they all get flown in from London and bring all their materials with them. Heck they even declare a small UK zone for the lot so no taxes will be paid to the US, kind of like an embassy. The nationality of the buyer is definitely the main indicator of home construction's impact on the economy.

 

[LoneLaugher]

Gee....the Mad Scientist seems very eager to bitch about a poor economy. He seems almost upset by the suggestion that there is some good economic news. How unusual for a auSMB nutter!

 

[Moonglow]

The Chinese are buying lots of houses for after the Chinese economy tanks...