Housing is strong because of low interest rates. Because of the aftermath from Katrina, there will probably be a pickup in sales.
More Quotes from David Sloan:
This data is fresh evidence that recent gains in mortgage rates are hitting the housing market.David Sloan
The ISM data really do look very strong, but you have to remember that these surveys simply ask whether things are getting better, getting worse, or staying the same,
David Sloan
If growth is slowing because of a supply restraint, that would mean demand putting upside pressure on prices, making these remarks hawkish.
David Sloan
The comments seemed reasonably hawkish. The Fed is concerned about inflationary pressures..It's certainly clear they are plan to continue to tighten.
David Sloan
I think it seems reasonably clear that there will be further tightening.
David Sloan
They measure the breadth of improvement, but not the magnitude of it -- if a lot of people see things getting just a little better, that can produce a very strong ISM number.
David Sloan
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