Housing: Upside and Downside Risks

In a note today, Merrill Lynch economist Michelle Meyer notes a few upside and downside risks for housing. A few excerpts: The housing market is being hit by several cross currents. On the upside, the warmer than-normal weather in the winter likely boosted housing activity over the past few months. The risk, however, is that this could be pulling activity forward from the spring. In addition, the general improvement in the economy and gain in consumer confidence could be underpinning housing activity. The NAHB homebuilder confidence index has climbed higher, reaching a new cyclical high of 71 ......(read more)

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