Homebuilder confidence dips for eighth straight month ...Middle East

Record home prices and elevated interest rates caused homebuilder confidence to fall for the eighth straight month in August, according to a new survey. The housing market index calculated by the National Association of Home Builders (NAHB) and Wells Fargo dipped six points this month and turned negative for the first time since May 2020. The eight-month streak of declines marks the worst stretch since the 2007 housing market crash.  “Tighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession,” NAHB chief economist Robert Dietz said in a statement, adding that the total number of housing starts will decrease this

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