The Builders Association of the Twin Cites puts out a monthly market report for new home construction. I was taking a look at the most recent report, November, and read some interesting quotes:

  • Builders continue to do what they absolutely have to do in this market downturn. They are repositioning themselves for the market’s eventual recovery by cutting back on production and working down their inventories.” ~ Brian Catalde, NAHB President
  • The progressive tightening of mortgage lending conditions during 2007 has been the major factor behind the setback in home sales this year. NAHB expects home sales to begin a gradual recovery in the early part of 2008. For this pattern to materialize,
    the U.S. economy must avoid recession and conditions in the mortgage finance system must improve. We are looking to the Federal Reserve to implement at least two more cuts in short-term interest rates to ensure that those conditions are met.”
    ~ David Seiders, NAHB Chief Economist

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