Kicking the Tires
One of the first areas of the economy to pop in response to the presidential election outcome was housing. That soft data is becoming concrete and will get better as more regulations are removed.
Home buyer traffic was in contraction since October 2005 before spiking in December 2016 after the election, and since this, its gained even more traction.
KB Homes posted results that beat the street on revenue and earnings, but the biggest highlight was the new record –low selling, general and administrative expense ratio, which swelled the company’s margins.
Guidance points to company-specific reasons for enthusiasm, but it underscores the current strength in the economy:
"As we look to 2018, we expect conditions will remain favorable in most of our served markets, with solid demand for housing driven by healthy employment, rising household incomes and strong consumer confidence, and continued limited supply."
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