U.S. homebuilder confidence slips

02/19/2013 | Bloomberg

The economic squeeze on American consumers may be telling as U.S. homebuilder confidence unexpectedly edged down this month, to a sub-neutral reading of 46 from a six-year high of 47 in January. Although record-low mortgage costs are supporting the housing market, "you need more robust consumer demand, which would entail job growth and wage gains," said Tom Porcelli, chief U.S. economist at RBC Capital Markets in New York.

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