Homebuilder Outlook Falls to Record Low
The National Association of Home Builders said Tuesday its housing market index, which tracks builders' perceptions of conditions and expectations for home sales over the next six months, fell two points to 18 in October, the lowest level since the index began in Jan. 1985. It was the eighth straight monthly decline.
On as scale of 1 to 100, the builders rate the current market at 18! To put that in perspective let’s use the old “babe scale” . That means if you were at a party all the girls (or guys) in the room would rate 1.8 on the “babe scale”! That does not sound like much of a party now, does it?