That's the Question of the Day. Interestingly enough that's the very...

That's the Question of the Day. Interestingly enough that's the very same question Kevin Depew on Minyanville asked nearly four months ago on March 20th 2007 in 'Five Things' in relation to the February NAHB Housing Market Index. BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? The rise in February was revised slightly lower yesterday, to 39 from 40, and declined in March to 36, ending six months of recovery. When the NAHB's housing market index is under 50, the number of builders who see 'poor' sales outnumber the number who see 'good' sales. The chart below shows the NAHB HMI in perspective. Even after the six-month recovery, builder confidence remains at levels that are lower than at any point since 1995. Fear not. The index can only go to zero. The bottom must be near. Then again the 'bottom must be near call' is in reference to the index. It took Japan over 18 years to hit bottom in terms of both land prices and time. Some recovery, eh? By the way, take a good hard look at those charts because this post is not really about housing at all. This post is about what happens when expected buyers do not show up, no matter what the market is. The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.

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