NAHB CEO gives grim assessment of housing market: 'We've given birth to a housing recession'
Jerry Howard warns housing is weakening in virtually every market, but says 'good policy' is the 'cure'
NAHB CEO: This is a 'real bad time' for housing
NAHB CEO Jerry Howard evaluates the decline of the housing market and if the recession could devolve into a housing depression on 'Varney & Co.'
National Association of Home Builders CEO Jerry Howard warned the housing market will continue to decline and is likely to "stay at bottom" until the midterm elections, telling "Varney & Co." Monday that policymakers could cure the current housing recession.
JERRY HOWARD: It’s a real bad time. Nine straight months down, we’ve given birth to a housing recession. This recession could be cured by policymakers, so I expect we’ll stay at the bottom, and maybe go a little lower, right up until we see the outcome of the midterm elections - because policy is what can get us out of this.
REDFIN PREDICTS SHARPEST TURN IN HOUSING MARKET SINCE 2008 CRASH
I think you’re seeing a weakening in virtually every market but those that were stronger are weakening less. I guess the most important thing that investors and people need to remember is that Americans still want to own their homes and that, as soon as the conditions turn a little more favorable, housing will pick up. That will pick up the whole economy.
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NAHB CEO: Housing is weakening in virtually every market
NAHB CEO Jerry Howard assesses the housing slowdown after homebuilder sentiment fell for the ninth straight month on 'Varney & Co.'