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Homebuilder sentiment falls sharply in November as higher mortgage rates bite

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Builder sentiment in the market for single-family homes tumbled in November to the lowest level in 10 years, indicating the housing market is officially in a recession.

CapitalistPig hedge fund manager Jonathan Hoenig discusses housing prices tumbling and high mortgages rates as the Fed considers raising interest rates again.

The National Association of Home Builders/Wells Fargo Housing Market Index, which measures the pulse of the single-family housing market, fell for the eleventh consecutive month to 33, marking the worst stretch for the housing market since the survey launched in 1985.

 

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