Posted on 07/17/2013 6:33:54 AM PDT by Perdogg
Farewell "Housing Recovery" - Housing Starts Miss Most Since January 2007, Permits Have Biggest Miss In History
In all the noise surrounding Bernanke's rehash of statements made countless times before, today's only relevant data point - June housing starts and permits - was largely ignored. And one can see why: printing at 836K, the starts number was the lowest since August 2012, the second largest sequential drop (down from 928K in May) since 2011 and the biggest miss to expectations of 957K since January 2007!
(Excerpt) Read more at zerohedge.com ...
blame obamacare
unexpected
what might be bad news for home builders may be a market good for existing-home owners/sales - no?
though very slow, for sure, even in this economy there are those who are seeking to buy for normal job-change reasons
and if new-home permits and home-building is down, might this, for the present, be a good thing for SOME existing home owners/sales??
it has always seemed to me that quite often existing home sales tend to go somewhat in the opposite direction of home building in the same area
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.