Posted on 11/20/2007 5:50:36 AM PST by Hydroshock
U.S. home construction starts were up 3 percent in October, the biggest monthly gain in eight months, but building permits were down 6.6 percent to a level not seen in 14 years, a government report on Tuesday showed.
The Commerce Department said housing starts set at an annual pace of 1.229 million units in October from a 1.193 million unit pace in September. It was the biggest monthly increase since February and came after starts tumbled 11.4 percent the prior month. Economists were expecting to see a slight decrease in starts to a 1.17 million unit pace from the initially reported 1.191 million pace.
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Building permits fell 6.6 percent in October to a 1.178 million unit pace. That was the lowest level since July 1993 and well below the 1.200 million unit level economists were expecting.
(Excerpt) Read more at cnbc.com ...
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Does a builder not need a building permit to start construction? If so, how can starts be up if permits are down? Are some builders building without permits?
Why is it Hydroshock always post doom and gloom stories?
STARTS are defined as constuction has started.
PERMITS are future constuction projects that will eventually turn into STARTS.
Although sometimes permits are filed and then never started or delayed indefinetly.
The Lumber Broker
These home builders need to get off their duffs and offer rebates, incentives, discounts for customers from Ford, Dodge, GMC, HomeDepot, Lowe's to get that inventory flying out the doors.
Instead of gramppapa's way of selling houses...sheesh!
Because if you post the same thing every day, eventually something will happen to “prove” you right.
Also, if you post inconsistent doom theories, one will be right.
Examples:
1. A “credit crunch” is predicted next year as billions in Christmas charges come due. (We’re doomed).
2. This Christmas shopping season is predicted to be a bust as millions cut back on spending. (We’re doomed).
Both predictions provide plenty of scary mileage in the short term, and there’s a chance one of them (though not both) can be right.
It’s a slam dunk!
Who are you a lumber broker for. I am a lumber broker too. I have my own company but worked for American International for 8 years.
Pray for W and Our Troops
Buying plywood before a hurricane doesn't mean you are pro-hurricane. And ignoring storm warnings doesn't mean you are doing all you can to prevent storm damage, through the power of positive thinking.
Never mind, put your glasses back on. Everything is just great!
Sounds odd. Starts up, permits down??
WTF?
Sure but when you have no plywood, nor the means to obtain it, you really don’t want to just sit there knowing about your impending death, either.
Well actually I am seeing just that happening in the past 3 weeks.
Seeing a bunch of people who have been waiting; are now buying houses.
They are getting the deals they want and are buying.
Could be they are finsihing up what was in the pipeline.
Maybe he is short on the market lol.
He is taking up willie green’s slack.
LLS
Congrats your way! Rebates, Incentives, 0% financing for well-qualified buyers, high trade-in values for their old homes, free Samsung washers and dryers from Ace Hardware....
>>Why is it Hydroshock always post doom and gloom stories?<<
It is partly because, regardless of your political afiliation, they are the most believeable, and interesting.
I’ve read some positive stories over the last few months and they sound like apologists or are doing obvious gymnastics with numbers.
The real news right now IS primarily doom and gloom.
Your question is like someone on DU askingwhy someone keeps posting bad articles about Hillary. Sometimes that is just where the truth lies.
>>Emergency rate cuts are NEEDED TODAY!<<
Actually, rates need to be increased, steadily.
The low rates are what is killing the dollar.
>>Sure but when you have no plywood, nor the means to obtain it, you really don’t want to just sit there knowing about your impending death, either.<<
You can evacuate.
Fannie and Freddie today reported they are essentially insolvent. Check their stock prices out. OH SORRY FOLKS, I accidentally let some gloom drip out of the corner of my mouth, dammit. We all know there’s no mortgage problems, don’t we?
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