Housing Starts Still Weak, Despite the Headlines
These guys who write newspaper headlines are getting me down. Here's the Wall Street Journal's online head: "Housing Starts Jumped in June."
Bloomberg proclaims: "Housing Starts in U.S. Unexpectedly Climb to Highest Level in Seven Months"
The Christian Science Monitor says:"US home construction recovering."
With that preparation, take a look at the latest data:
Wow! Isn't that a real jump, a real recovery. Ho hum.
Comments
It’s all hyped up. What about the foreclosures that are on the rise? 1.5M in the last 6 months and spreading to other states. Combine foreclosures with starts and you have more supply, probably leading to softening of prices – good news for buyers? It’s even worse in India where the housing market is highly inflated!