Mixed messages

From today’s Statesman:

Area housing market still in high gear: “I think the local market is moving in the right direction and finally beginning to pick up momentum,” said Terry Montgomery, president of Pulte Homes’ Austin division, although Pulte did not increase its starts during the past quarter.

Meanwhile …

Economic data give Wall Street the jitters: Those looking for signs of a slowdown are finding them. For instance, home equity lending at banks has slowed from a peak rate of $2 billion to $3 billion a week to “a trickle” of $100 million in the past several weeks, according to a Citigroup report. “There’s just a lot of nervousness and crosscurrents.”

Choose your own conclusion:
a) Those fancypants in New York don’t know squat about building houses. No bubble here, Bubba!
b) Developers will clear land and hope for the best, regardless of the economy. Make way at the bankruptcy court!
c) Austin’s so money (and we totally know it). Better start building now for all 500,000 of our future neighbors!
d) Fee-Fi-Fo-Fum. I smell the blood of over-leveraged investors from [California, the East Coast, Las Vegas].
e) Dude, I just spilled bong water. What was the question?

Speaking of mixed messages, where’s that cold front?!?!

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