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Housing Starts Up this Week.

Housing starts, rose 3.9 percent to a seasonally adjusted annual rate of 555,000 units, slightly more than expected, but permits for new housing disappointed, slipped 4 percent, the Commerce Department reported Thursday. The drop in permits led to a 1.5 year low.

I think the housing market needs a shortage of homes in order to recover (Econ 101: Supply vs Demand), and with homebuilders coming back to the market with new homes, that recovery will never happen.  The country needs housing starts to be less than 300,000 units.

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December 19, 2010 - Posted by | Uncategorized |

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