The National Association of Home Builders reports that builder confidence is down yet again this month -- facing the ever deepening worries over the economy and markets.

"Today’s report shows that we are in a crisis situation. If there’s any hope of turning this economy around, Congress and the Administration need to focus on stabilizing housing,” said NAHB Chairman Sandy Dunn, a home builder from Point Pleasant, W.Va.. "Tremendous economic uncertainties have driven consumers from the housing market, and it’s going to take some major incentives to bring them back. Beyond the work that is being done to help reduce foreclosures, Congress must immediately incorporate such incentives for qualified buyers in a new economic recovery package.”

Regionally -- all areas of the nation saw declines in confidence -- with the biggest decline seen in the Midwest.

Published: November 25, 2008

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