![]()
- Abu Dhabi Will Aid Debt-Fraught Dubai 'Case by Case'
- Banks With The Biggest Exposure to The UAE
- Dubai's Debt Woes Signal New Era for Creditors
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Big US Banks May Be Forced to Raise Capital: Bove
- Bank of America Amends Pay for Senior Executives
- Tiger Woods Out of Hospital After Accident
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
MOST SHARED
- The Good Entrepreneur Winner
- Gold Will Collapse Like Oil Did in 2008: Charts
- Abu Dhabi Will Aid Debt-Fraught Dubai 'Case by Case'
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- Tiger Woods Out of Hospital After Accident
A reading of U.S. homebuilders' sentiment remained unchanged in April, just shy of its record low for the third consecutive month as the housing market failed to recover.
![]() |
AP |
The index, derived from a survey of about 400 residential developers nationwide, gauges builders' perceptions of current conditions, interest from potential buyers and expectations for home sales over the next six months. Index readings higher than 50 indicate positive sentiment.
The index has been at 20 or below since September, and below 50 since May 2006.
Tighter lending standards, rising defaults and fear about the housing market's future have sidelined buyers, an absence felt acutely by homebuilders such as D.R. Horton [DHI
Loading...
()
], Pulte Homes [PHM
Loading...
()
] and Centex [CTX
Loading...
()
].
Confidence rose slightly in the Northeast and West, but fell in the Midwest and South. Traffic from prospective buyers also remained unchanged, the trade group said.
The builders' group's chief economist, David Seiders, says the housing slump has pushed the economy into a "mild recession." The trade group has been pushing aggressively on Captiol Hill for legislation, such as a temporary tax credit for home buyers, arguing that doing so could stem the housing downturn.
"Measures that stimulate consumer confidence in the housing market, push the fence-sitters into the ring and put a floor under house prices can successfully halt the drag that housing is exerting on the national economy, and help stabilize financial markets at the same time," Seiders said in a statement.
Fitch Ratings said in a conference call Tuesday that the housing sector is likely to continue to contract throughout 2008, and could worsen further in 2009 if the economy slides into a sharp recession. The ratings agency said low mortgage rates, cheaper home prices and government proposals to aid the ailing industry will not be enough to spark a turnaround.
"Despite a few steps in the right direction, U.S. housing remains mired in a steep cyclical decline, with more pain likely for U.S. homebuilders through 2008," said Fitch homebuilding analyst Robert Curran.
- These four sectors will be the next to lead the market.
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- It may be the most unusual guide to business you'll read.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?













