David Seiders
David Seiders
continue high incredibly level numbers riding
The numbers continue to look great. We're riding at an incredibly high level here.
builders demand incentives market marking rolling sales sort starts
The big builders are marking down their outlooks for 2006 and rolling out some sales incentives -- the sort of things we see when the market starts to weaken on the demand side.
activity classic conditions cyclical market process rather retreat spiral
The retreat in housing-market activity that's now under way amounts to a simmering-down process from unsustainable market conditions in 2005, rather than a classic cyclical contraction that could spiral down for some time.
definitely good housing market sign
This is definitely a good sign that the housing market is stabilizing.
affect behavior blow changes consumer current enduring equity happening help hoping house people price spending view
It's when people view these changes as enduring that it really can affect their current spending behavior. I think that is happening probably, and I'm hoping that house price appreciation, the equity accumulation, will help soften the blow in consumer spending.
january numbers permit temporary view
I view the housing-starts and permit numbers for January as a temporary burst.
wonder
It's really unprecedented, so you wonder if it can continue.
behind driving factor forward housing key market move numbers record strong weather winter
The warmest winter weather on record is what is driving a lot of this. I think that is the key factor behind this very strong surge in housing market activity, and as we move forward I think we're going to see these numbers come back down a lot.
bolster builders buyers continue decline hold housing key limit losing major market markets measures momentum move prices reason reasons
The key reason the market is losing momentum is a major decline in housing affordability measures as prices continue to move up aggressively in many, many markets around the country. There are reasons for the builders to be doing things to bolster demand, hold buyers in and limit cancellations, and I think that's what's going on out there.
begin conclude early evidence exuberance fed found growing hit housing losing mark market period seeking
The housing market is seeking out a peak. While it is still too early to conclude that it has found one, there is growing evidence that the Fed has started to hit its mark and housing will begin losing some of its exuberance in the period ahead.
bit early high moving people rate seeing
The home-ownership rate has edged down a bit from its high in early 2004, and we're seeing more people moving into rental housing.
cause dramatic lingering problems
The hurricanes did cause some dramatic problems short-term, and there are some lingering ones.
bolster continues exhibit favorable household housing income job market mortgage ongoing overall remain strength strong
All the fundamentals remain in place, and the overall housing market continues to exhibit ongoing strength. Favorable mortgage rates, as well as strong household income and job growth, continue to bolster housing demand.
few impossible inflation maintain past price seen
It was impossible to maintain double-digit price inflation like we've seen the past few years.