Posted on 05/10/2014 10:39:26 AM PDT by expat_panama
Huge “beat” on housing starts but 96% of the March to April increase driven by multi-family starts
Miss on consumer confidence... 81.8 vs 84.5 est
--and both starts'n'permits came in great. So what we're getting is a lot of 'on-the-other-hand' stuff here...
Great for multi-family. Anemic for single family. Multi family percentage of total is highest in last 40 years.
The article seemed to rest on a meme that's going pandemic these days that says America's got too much inequality of incomes --this time the author also hangs his hat on the idea that we're losing our social mobility. Problem is that this is a key point, and he fails to support it with facts and we're expected to take his word for it.
I don't.
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