US Homebuilder Confidence Drops To 13-Month Low As Building Material Prices Increase 19.4% Over Past Year

The NAHB Homebuilder confidence index dropped to a 13 month low as building materials rise by 19.4% YoY.

Of course, then we have the University of Michigan conditions for buying a home crashing as well.

Rising home prices and rising construction material costs? Yikes.

Of course, the NAHB had this to say:

“Our expectation is that production bottlenecks should ease over the coming months and the market should return to more normal conditions,” NAHB Chief Economist Robert Dietz said in a statement.

Perhaps, but The Fed needs to slow down its money printing as well.

The most powerful economists in the world?

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