Builders' confidence falls to lowest level ever

US home builders are as pessimistic as they've ever been over the past 22 years, the National Association of Home Builders reported. The NAHB/Wells Fargo housing market index fell two points in September to 20, matching the all-time low for the index set in January 1991. The index, which gauges builder sentiment, dates back to 1985. The index has fallen by 16 points in the past six months following a brief bloom of optimism around the turn of the new year when unseasonably good weather boosted both home sales and housing starts.

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