wednesday woes, page-131

this article may give us a gauge of what to expect tonight......then again, every night's a party on the dow .

Home builders' confidence falls back to 16-year low

By Rex Nutting, MarketWatch
Last Update: 5:04 PM ET May 15, 2007


"WASHINGTON (MarketWatch) -- Tightening lending standards shook U.S. home builders in May, sending a gauge of their confidence back down to a 16-year low, an industry trade group reported Tuesday.
The National Association of Home Builders/Wells Fargo housing market index slid three points to 30 in May, matching the 16-year low set in September. Economists were predicting the home builders' index would remain at 33, according to a survey conducted by MarketWatch.
The results show that roughly one-third of builders have confidence in the housing market.
"This weakness suggests we should not expect a sustained rebound in starts anytime soon," wrote Drew Matus, an economist with Lehman Bros.
The report comes one day ahead of the government's report on housing starts and building permits for April. Economists expect 3% declines for both starts and permits."