Tom Lindmark

Housing Bottom and Homebuilders: No Sign of Improvement

I'll take Brown. At least he has data.

Housing Bottom and Homebuilders: No Sign of Improvement

Actually, new homes are selling at a pretty brisk pace in Phoenix, so it might not be as much of a gamble as you point out. Resales, are also improving. June 2008 sales were above June 2007 and July sales appear to be above last July's.

I have no axe to grind either way, and I am probably in agreement that we are not close to the end of the credit crisis. However, there are signs-not just in Phoenix-that the tone of the market is changing. Here is a link to an article that I wrote that contains further links dealing with that issue-blog.metro-real-estate....

Personally, I don't think that a bottom in housing translates into an end to the crisis. There are a number of structural issues yet to be faced and the impact of deleveraging is going to continue long after housing begins its recovery.

WCI Stops Some Major Building Projects [Housing Tracker]

Meritage got a "little greedy". That's the understatement of the year so far.