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Jerry Howard, NAHB CEO, weighs in on the housing market index being at its highest level since April 2006.
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Joining me now with the CEO of the NAHB.
Jerry it was believed by many and -- myself and I can't that we were gonna break above that fifty level.
For the month of January what happened we stood up 47.
You know show I think it's it's a combination of remaining.
Very tight constraints on consumer credit for housing and also you know business people have to plan based uncertainties and the other -- dance over the fiscal cliff and then the looming redux over the the debt limitations are anything but certain for businesses to plan for actually I think staying the same is -- is a pretty positive outlook for right now.
You know one of the things that -- that was bandied about what the fiscal clip discussions and still to come up again and the debt ceiling debate depending on what happens in Washington is the mortgage interest adoption.
And that was a big -- I'm assuming.
For the builders for your members and that if you take that way even on some kind of scaling is -- on sliding scale if you will with the tax cut that that would hurt housing which now seems to be really.
Recovering -- a big way.
You're exactly right all these debates over the government's role in housing finance the debates on the tax expenditures for housing.
All cast a Pall on the recovery that's really ready to happen.
So we encourage policy makers to stop doing harm to housing and leave us alone and we can help the economy recover at a very steady pace.
You wanna think that was look at obviously is the is the regions coupled regions are above fifty above fifty is -- look at -- for for our viewers.
If the midwest at fifty the west.
At 51 that's California that Sarah zona what is happening in the northeast right now that the northeast is dragging this index.
Well the northeast dragged the index down this month but if you look at a three month rolling average all the regions are off.
What's happened in the northeast is you've got -- -- in you've got some regional factors there that did in terms of the job market in the economies in the northeast.
But overall it's really important focus on a three month average that's what.
-- indicates a real trend and all of the regions are up over three months.
Jerry interest rates thirty effects in the 3% range incredible right now.
Jerry Howard thank you very much maybe next up we'll see some fifty a big fifty number provide homes -- -- -- says thanks Eric.
JPMorgan the banking giant cutting CEO Jamie Dimon is compensation and a half of that six billion dollar loss on the London -- fiasco.
And more and more seniors.
Seniors are racking up their credit -- is not a major concern we're gonna talk about a coming up.
As -- get it right don't wanna take a look at some of the winners of --
