NAHB chief economist pessimistic on housing

As I've said before, the National Association of Home Builders (NAHB) economists are far more honest than the National Association of Realtors (NAR) economists:

Even the National Association of Home Builders’ top economist is sounding a bit gloomy these days.

David Crowe, the trade group’s chief economist has lowered his forecast for home construction this year. ...

In an interview, Mr. Crowe said the start of the year was “much worse than I expected,” noting that overall economic growth was weak, the labor market grew less than forecast and consumer confidence hasn’t picked up. High gasoline prices, he said, are “just a joy-killer” that makes consumers less interested in purchasing a new home.