Source: Census
Wednesday, January 19, 2011
Housing Starts Quite Low
Housing market optimists will blame this partially on December weather. Broader optimists will point out that low levels of new construction will help clear the existing inventory. Those looking for the housing market to contribute towards the economic recovery (outside of addition by the elimination of subtraction) will be disappointed.
Maybe if we tell them there's no Santa Clause it will take their minds off of the supposed housing recovery? We are years from a housing recovery and have further down the rabbit hole to go before we even hit bottom. What came before was merely the end of the beginning.
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