Posted on 07/17/2013 2:15:45 PM PDT by whitedog57
Housing starts fell 9.91% in June. 1 unit starts, however, only fell 0.84%. It was multi-family starts that dragged down the overall number.
sdata
1 unit starts have fallen to 1982 levels.
hs1unit0717
The same for 1 unit building permits.
1unitperm
Multifamily starts fell 26% and fell back to September 2012 levels.
mfstarts0717
Where were you in ’82?
“Where were you in ’82?”
Getting used to Navy life and going through my technical schools.
I believe hedge funds are buying up properties, with the plan to flip or rent. Problem here is they could just as easily sale in masse if the bubble bursts. What's that going to do to housing if / when that happens?
Unexpectedly!!!!!!’
Bookmark.
How is this possible? All I hear from the talking heads is that the real estate market is rebounding.
Yes, people are finding buyers. But isn’t it because the banks are holding back pretty much all of the foreclosures they have on their books? And aren’t a large number of sales going to REIT’s and investors that have the ability to pay cash?
I saw an article about the mortgage activity this afternoon. Is that because of folks refinancing now, hoping that the rates don’t start rising? That’s happened before when it was being pushed that the number of mortgages was increasing but it turned out most of it was from refinancing.
From other articles, it seems like its almost impossible for 1st time home buyers to purchase with all the new rules.
“Housing Starts and Permits Drop to 1982 (Reagan) Levels, Multifamily Starts Fall 26%” Gas is up 14 cents in a week oil is up 15.00 AND long term unemployment is at record highs - hey that ought to kick the DOW up another 200 points!
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