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NAHB CEO on Drop in Homebuilder Sentiment

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  • Description

    NAHB CEO Jerry Howard explains why homebuilder confidence is slipping.

  • Duration 3:30
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Builder confidence.

Celeb thing for the month of February expectation was -- -- supposed to go higher the national association of homebuilders released their and -- this morning.

Now it's moving -- that 2006 level but still not over fifty that's the critical mid point of this -- joining me now.

-- exclusive interview NAHB CEO president Jerry Howard Jerry it at the last couple months have been asking you for gonna go over that fifty mark went down a point.

For the month of February what are -- telling you -- Well surely the debasing trepidation is over government policies.

The president touched on in his -- opt in is -- state of the union speech I guess he's been watching us the last couple months because he said that.

Credit is unduly tight and the lack of a finality and some of the financial services regulations are having people take a pause in and that's reflected in in this month's numbers.

But yet if you look at the regions -- or shut him up of the country if you look at the northeast a look at the -- it was actually.

A jump in those regions midwest a -- that's that's the opposite of kind of the trend that we have been saying -- -- -- that's an overly.

Overall -- positive move do you think to see those beaten down regions build a little bent.

Absolutely it shows that the economies and in in the northeast and particularly in the west in California are really showing signs -- taken hold and look into -- strong spring season in the south where things are are down this month.

-- again it's we think so it's a recovery from last month if you look back at last month's numbers to -- were really.

Higher than average are higher than we expected so that somewhat of a recovery mode overall down by one point.

I'm still saying we're gonna break big break fifty sometime soon in the in the future here.

All right I got -- -- next month or two but you never do -- my lesson with it but I'll let it.

You have the report and the builders that that you survey they were talking about immaterial costs as one of the things.

That there are concerned about they're seeing higher material costs of particular that can be lumber -- -- -- copper that can be arranged.

Issues how worried are you would how we're -- builders.

About but these commodity prices going higher and that affecting the bottom line when they're just work -- We're very concerned.

-- you're you're exactly right.

And and right now it's predominantly lumber were were seen.

-- concern beings expressed by the builders.

Other limitations on domestic harvest -- timber some of the negotiations with foreign countries about duties on imported lumber have the builders a little bit skittish and that front.

But then again so to some of the other regulations that are out there.

While the government has been slow so put in place the financial services regulations that would help us.

Some of the regulations that -- to the costs of building are coming out -- rapid fire and that's also a -- -- -- builders is sort of take a pause here.

You know I have this sector it was just I mean it just went gangbusters in 2000 while having a look at -- a look at how Canadian.

Idyllic outlook are -- -- that they -- thanks guys I mean these stocks were just beat the stars are shining stars of 2000 top.

I -- -- to the CEOs.

You know private conversations today expressed concern to you about about share price about performance in the market.

And it just like you you've learned about me saying if we're gonna over fifteen a couple of months.

I've learned to do expect this question from you sure are and I got -- -- at the same way I can't divulge any private conversations that I have -- that.

Can I call you necessarily question letter -- -- I'm sure all right John Maynard Jerry Howard thank you very -- excited he is not the liberal we'll talk to an excellent thanks -- yes ma'am banks.

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