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US housing starts hits 30-month high
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adr0ck
Posts: 2,374 Forumite
A 17.2% increase in May was more than twice what economists predicted
The first green shoots appear to be emerging in the US housing market, as the number of homes under construction soared to a two-and-a-half-year high.
Housing starts, that is new construction work on houses or flats, increased by 17.2% in May to a seasonally adjusted annualised rate of 532,000 homes – a level not seen since January 2006, prior to the existing housing crisis.
http://www.building.co.uk/story.asp?sectioncode=284&storycode=3142887&c=1
The first green shoots appear to be emerging in the US housing market, as the number of homes under construction soared to a two-and-a-half-year high.
Housing starts, that is new construction work on houses or flats, increased by 17.2% in May to a seasonally adjusted annualised rate of 532,000 homes – a level not seen since January 2006, prior to the existing housing crisis.
http://www.building.co.uk/story.asp?sectioncode=284&storycode=3142887&c=1
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Comments
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A little puzzle for the bears
Is this good news or bad 
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
i saw this story yesterday, and thought it was a bit mis-leading.
its all small volume, high percentages....
13:41 16Jun09 -MARKET TALK: Apartment Buildings Led May Starts Gain
1241 GMT - The unexpectedly strong 17.2% jump in starts was paced by multi-unit construction. Starts for housing with two or more units jumped 61.7% to 131,000; within that category, groundbreakings of homes with five or more units - or multi-family - were 77.1% higher. Single-family starts climbed 7.5% to 401,000, after rising 3.3% in April and 1.1% during March. But even with the May gain, year over year, total housing starts were 45.2% lower than the pace of construction in May 2008. (KGM)
i think the 77.1% figure makes the overall average a bit distorted Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
inspector_monkfish wrote: »i saw this story yesterday, and thought it was a bit mis-leading.
its all small volume, high percentages....
just like the house prices average indexes then, some people still take notice of those...
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Thought they had millions of repossed houses that started all this credit crunch. Why build more?0
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Thought they had millions of repossed houses that started all this credit crunch. Why build more?
i think we just went full circle on the 'bulldoze a US town' thread....Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
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Thought they had millions of repossed houses that started all this credit crunch. Why build more?
A bit like the bears dreams that there is massive over-supply in this country.
Not much use if there are lots of empty houses in Hull or Detroit if you want to live in Cambridge or San Diego.US housing: it's not a bubble
Moneyweek, December 20050 -
interesting bit at end of article:
The news comes as economists from America’s top banks announced the US economy should emerge from recession by late summer.
The American Bankers Association’s Economic Advisory Committee said it expects economic activity to rise by 0.5% between July and September.0 -
US housing starts hits 30-month high
The Bears won't take notice until they become Housing Completions 'In nature, there are neither rewards nor punishments - there are Consequences.'0
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