This is getting depressing


Homebuilders’ confidence index sinks to 9, a record low.

Confidence among U.S. homebuilders in November dropped to the lowest level since record-keeping began in 1985, a sign that the deepening credit crisis is preventing prospective buyers from purchasing new homes.

The National Association of Home Builders/Wells Fargo index of builder confidence decreased to 9, lower than forecast, from 14 in October, the Washington-based association said today. A reading less than 50 means most respondents view conditions as poor.

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