David Seiders Strong Quotations

We've been in a period when a lot of equity has been dropped in our laps, and it has been fairly easy to get to that equity in tax favorable ways. In these circumstances, savings will fall given the strong consumer attitude in America.

While new-home sales have been quite strong throughout 2005, we see a cooling of the market to a healthy and more sustainable pace in the months ahead, as substantiated by recent surveys of our builders. For 2006, we expect to see a 6 percent to 7 percent drop in sales, but certainly no reason for alarm. This would make 2006 the second or third best year in housing history.

I've been expecting the housing-production component of GDP to move from a strong growth engine to a neutral or negative element in the U.S. economy over the next year and a half.

The warmest winter weather on record is what is driving a lot of this. I think that is the key factor behind this very strong surge in housing market activity, and as we move forward I think we're going to see these numbers come back down a lot.

All the fundamentals remain in place, and the overall housing market continues to exhibit ongoing strength. Favorable mortgage rates, as well as strong household income and job growth, continue to bolster housing demand.