But at some point, as Mike Tyson opined "someone punches you in the face."
And it appears from the latest NAHB Sentiment Index that homebuilders in America just got 'punched in the face'.
For the second month in a row, homebuilder optimism crashed amid broad-based declines across sales, expectations and buyer traffic (down 4 to 56 and well below the 60 print expected) as hope begins to collapse back to the housing market's reality...
Additionally, as Bloomberg notes, a gauge of the NAHB six-month sales outlook dropped to the lowest since March 2016 while a measure of current sales for single-family homes decreased to a three-year low. That suggests demand will remain soft as there's still a shortage of affordably-priced listings, in addition to property values that have been outpacing wage gains.