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NAHB Posts Craptacular Numbers

Rock bottom mortgage rates aren’t helping the housing market. The NAHBs builder survey numbers were horrible. Current sales were rated at 13 on a scale of 100. Anything below 50 means that the builders say that business sucks. But get this. The “Traffic” measure, which reflects how many looky loos there are in the builders’ sales centers, was at NINE! Which is down from 10 in August, 10 in July, and 13 in June. This portends that sales will be even worse in the next couple of months than they are this month.

I will post charts, along with updated analysis in the Wall Street Examiner Professional Edition Housing update tomorrow.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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