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NAHB CEO on Homebuilder Confidence

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  • Description

    NAHB CEO Jerry Howard gives his outlook for the housing market.

  • Duration 3:26
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This transcript is automatically generated

Right now.

And then there is this in this breaking news came out this morning August home builder confidence hitting -- five year high.

The national association of -- dollars -- next came in today with a two point gain from July that's -- level.

Since February of 2007 that analysts are cautioned this reading.

Is still well below that fifty mark and more is needed to happen any severe critics of media got these nodding is that any HP CEO Jerry Howard.

Joins me now -- -- have you in New York by the why it's great to be and that's very interesting meetings coming up when you're here in Europe about talking about the of so many analysts came out of the commentary -- Great number but it's what timeframe are we look at.

Here Gerri well I think did if things continue in some of these economic doom and gloom.

Forecasts don't happen you're gonna see housing come back fairly strong over the course of the next couple years and will couple.

A couple years before we get to what -- would say is the normal market where we have sort organic demand.

Just for a 1000004000005.

Housing starts a year to put that into perspective for you -- this year were looking at something like 630.

Housing starts OK so that when you -- also the traffic I thought was -- interest because there was actually a decent job.

In traffic -- -- 2006 levels for foot traffic in the coming into homes but mortgage -- are telling me.

That that that the sales are being complete at Y.

The mortgage application process is as draconian and difficult to get through and it is scaring customers off.

The eight what are -- are complex built under The -- because -- first of all we are some of the less small entrepreneurs in America.

They -- believed that housing will lead us out of the recession.

To traffic is coming back because the American people believe in housing.

It's just that once they get into the process the availability of credit is making it more difficult it really is restarting whether the the economic recovery.

And you talked about appraisers as well they -- -- not coming in different updating its about a few times.

Also that the the six month outlook actually I was raised just a point month over month I mean do you think that some of that caution.

Frankly when you see other numbers going up higher is because builders note that the final sale may not happen because of the mortgage process.

There's that and -- caution about the overall economy and in the end the geopolitics is situation as well.

Do you think of the presidential candidates are focusing enough on housing -- no I really don't frankly I think fit.

To the basic American voter on the heartland the value of his house the commitment of the federal government.

The -- making sure that we remain a nation of homeowners is one of the primary questions out there and neither the Romney campaign.

For the Obama campaign has stepped up to the plate and address the issue.

What do you think -- a voter would -- -- hear them when it comes to housing the size affecting my value was coming back I mean for for but I think I would want -- time.

I think we got a commitment.

I think you wanna hear a commitment over time from the federal government.

That they understand.

That America is a nation built on its homes and that we are not going to enact federal policies.

That make the application process to draconian that we're not gonna enact federal policies that remove the federal backstop from the housing finance system that we're not gonna change the -- the tax code and devalued America's greatest asset.

If I as a presidential candidate -- -- -- to the midwest because that's for the biggest jump was from humble we're confident amend the west was right after that so you know that's the advice -- sure you would get to them that's exactly right and there's some important states for both candidates out there yeah -- the swing states Jerry Howard thank you so much good idea on exclusively on fox visiting if you --

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