Posted on 05/17/2023 6:33:32 AM PDT by Kaiser8408a
More bad news about the economy and housing sector under Biden/Yellen/Powell’s Reign of Economic Error.
US housing starts are out for April 2023. The bad news? Housing starts tanked -22.3% year-over-year (YoY).
The good news? US housing starts were up 2.19% from March to April. 1-unit detached starts were up 1.56% MoM while 5+ unit starts up 5.24% MoM. Permits for multifamily were down -9.71% from March to April.
The media will no doubt try to ignore the horrifying Durham Report. The report showed that Hillary Clinton and the Obama administration knowingly smeared Presidential candidate Donald Trump with false Russian misinformation and knowingly tried to steal an election. I wonder if Attorney General Merrick Garland will open an investigation into Hillary Clinton’s involvement in election tampering? Oh wait, the IRS was told to stop investigating Hunter Biden’s nefarious dealings. Never mind.
(Excerpt) Read more at confoundedinterest.net ...
Home Builder Confidence Rises for Fifth Straight Month
https://www.breitbart.com/economy/2023/05/16/home-builder-confidence-rises-for-fifth-straight-month/
I guess they could get 6 months.
All of this is manipulated BS.
No, home builders are switching to what the consumer wants to buy.
Smaller homes for first time home buyers and older people looking to downsize.
In addition they are building multi family buildings. A customer in OKC just told me about a builder that had switched to building four plex apartment buildings. Basically two story buildings with four, two bedroom 1 1/2 bath apartments. Real estate investors are snapping them up as fast as they can build them. This is because they can pay off the building based on the rental income in ten years or less.
I see lots of those smaller homes getting put up. They ain’t cheap.
Funny my property tax appraisal rose 50%. Normally, it rises 10% every year. What’s not funny is my income has never risen to meet the demand so bring on the crash.
Naw, any crash will be a mere hiccup with illegals needing housing.
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