Home builder confidence up as housing starts fall off a cliff

"Home Builder Confidence Climbs To Highest Since October 2008 so said a report issued by Wells Fargo and the National Association of Home Builders (NAHB) yesterday. In case you were wondering about the NAHB’s prognostication ability today the Commerce Department reported new home construction declined nearly 11% in March, dropping to the second lowest level on record. The lowest on record? Why that would have been the numbers reported in January."