Housing’s Wealth Effect to Start Nudging U.S. Spending

Patrick Fallon/Bloomberg

Workers apply stucco to the exterior of a house under construction in the Pasadera community, a housing development of Hovnanian Enterprises Inc. in Rancho Cucamonga, California. Confidence among U.S. homebuilders climbed in September to the highest level in more than six years, according to the National Association of Home Builders/Wells Fargo builder sentiment index released today.