David Seiders
David Seiders
decline february housing normal returned suggesting
It is a time-tested pattern. February has essentially returned to normal conditions, suggesting to me that we will see a substantial decline in housing starts.
start
When you start to see cancellations, you really get worried.
attitude consumer dropped easy equity fairly fall favorable given period savings strong tax
We've been in a period when a lot of equity has been dropped in our laps, and it has been fairly easy to get to that equity in tax favorable ways. In these circumstances, savings will fall given the strong consumer attitude in America.
declines followed forecasts home housing percent sales smaller starts
Our forecasts show 6 percent to 7 percent declines in home sales and single-family housing starts in 2006, followed by smaller declines in 2007.
assessment home housing overall quarter sales sector terms third
My overall assessment of the housing sector is that we probably fundamentally topped out in the third quarter of 2005 in terms of home sales and housing production.
delighted housing market obviously tells
I was obviously delighted to see this rebound. I think what it tells us is that the housing market is still fundamentally strong.
sting takes weather winter
Winter weather really takes the sting out of these declines.
certainly inevitable rate record return seeing sign slow terms
We're certainly seeing a record rate of return in real terms (after factoring out inflation), and there has been very little sign of deceleration. But it is probably inevitable that some of this will slow down.
bad conditions country january parts unusually weather
We had unusually bad weather in many parts of the country in December, and the conditions in January were extraordinarily warm.
healthy hold last pace
We can't hold at the pace we had last year. It's not going to be the end of the world -- it's going to be a simmering down to a very healthy pace.
glaring happen hottest point problems reached
It's healthy. We do need to have that happen -- gracefully, though. Affordability problems are glaring in the hottest areas. We've reached the point where something's really got to give.
housing run
It's been an unprecedented run for the housing sector.
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.