The worse the housing number the longer QE3 will be on the horizon, and we all know the markets love more QE...
Housing starts are still like 70% off the 2007 numbers... so 30% up over last year ain't saying much. More then jobs data ... I think we'll see big companies talking about fiscal cliff and laying off people as the election draws closer and the Repub CEOs get desperate as things are looking worse for Romney. A good old market crash would be good for Romney ~ oh and I never thought the Fed would play politics but enacting QE3 with the SPY over 1400 ? that's just ridiculous. ^^I'm not being political just stating facts.