Dow Soars Above 19,900 On Dramatic Spike In Homebuilder Confidence

Are you f##king kidding me? The Fed hikes rates, interest rates are soaring, mortgage rates are exploding, and mortgage apps have collapsed to ‘Lehman’ lows… and Homebuilder Confidence explodes to its highest since 2005 – just before it utterly collapsed. Of course this was just what the market wanted and The Dow was panic-bid back above 19,900…

This is happening…

 

And self-referential homebuilders are the most optimistic since the crest of the last cycle before it collapsed…

“This notable rise in builder sentiment is largely attributable to a post-election bounce, as builders are hopeful that President-elect Trump will follow through on his pledge to cut burdensome regulations that are harming small businesses and housing affordability,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.

 

 “This is particularly important, given that a recent NAHB study shows that regulatory costs for home building have increased 29 percent in the past five years.” 

Ignore that cliff…

 

Which sent The Dow to unchanged from The Fed…

Now those stops have been run, what happens?


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Author: Tyler Durden

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