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Housing starts and permits plunge in May


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2014 Jun 17, 1:38am   1,612 views  4 comments

by tovarichpeter   ➕follow (6)   💰tip   ignore  

http://www.latimes.com/business/realestate/la-fi-re-housing-starts-20140617-story.html

Home builders broke ground on fewer new homes nationwide in May, as a key element of the housing recovery lost momentum. Housing starts fell 6.5% from April to a seasonally adjusted annual rate of 1,001,000, the Commerce Department said Tuesday. The drop was slightly worse than expected and comes after volatile multifamily construction surged in April, pushing starts to a five-month high.

#housing

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1   bubblesitter   2014 Jun 17, 1:40am  

This is going to make the gap even wider between supply and demand. Within a month all the shacks will be 20% priced higher then they are now.

2   Strategist   2014 Jun 17, 2:11am  

Slow recovery, but still a recovery.

3   Strategist   2014 Jun 17, 2:16am  

Call it Crazy says

Strategist says

Slow recovery, but still a recovery.

Hmmm... Going backwards is a recovery??? OK...

Article says:
"Economists polled by Bloomberg News expected a 1.03 million annual rate in May. Last month saw the first decline in starts since January, although starts are 9.4% higher than May 2013."

Tell me the truth....is it a slow recovery, or is it going backwards?

4   Strategist   2014 Jun 17, 3:45am  

I see an upward trend from 2011 onwards for both the lines.
Some choppiness is expected.

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