Ouch! Housing starts really took a hit last month:
It’s not just unusually cold weather at work. The western states had the steepest decline, though they are not usually as weather-affected as the northeast. The northeast actually increased on a seasonally adjusted basis. So what’s going on? Overblown housing market is caving in.
Business Strategy Implications: This is not the year that housing recovers, but later this year, housing will stop getting worse.