Housing, in perspective

Housing starts, 2002-2012

Seems like there is finally some good news recently in housing, but in this election year before things gets out of control I wanted to put this in perspective; the chart above shows housing starts (HOUST, black line) over the past ten years with the last recession indicated by the vertical grey column. First the good news: housing starts have been increased every month for the past eleven months. That’s it, the good news. Bad news: as detailed in the table below housing starts have been wobbly – I’ve presented the month by month change. Oh yes, housing starts would have to reach at least one million a year to get back to the pre-recession level. The most recent number was 750K, a far cry from one million.

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