Housing posts big rebound in April WE'RE DOOMED!!

The Washington Times ^ | May 17, 2008 | Martin Crutsinger

[expat_panama]

ASSOCIATED PRESS - Construction of new homes posted the biggest increase in more than two years in April. While it was a rare bit of good news for the housing market, analysts said it's far too soon to declare an end to the extensive slump. The Commerce Department reported yesterday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units. Building of single-family homes continued to weaken, however. The growth came from a big jump in apartment construction. Analysts predicted the surprising rebound in April would be temporary given the headwinds builders are still confronting, from slumping sales to soaring home foreclosures. "It is definitely too early to uncork the champagne on the long and winding road to more healthy housing market conditions," said Brian Bethune, an economist at Global Insight. He does not expect housing activity to stabilize until the end of this year. The prolonged slump in housing has been a major drag on the overall economy, raising worries that the country is in danger of falling into a recession. A second report yesterday showed that consumer confidence as measured by the University of Michigan/Reuters survey fell to a 28-year low ...[snip]

[Freedom_Is_Not_Free]

There are always aberrations. I’m just looking at trends and probabilities. The probability points toward recession.

The trend is that this looks to be the longest steepest drop in housing starts since the 1973 recession and knowbody knows where or when the steep decline will bottom.

Could it be 1973 stagflation all over again? I just don’t know. But that chart just reinforces all the other data I am reading that we are in for some bad times, and there won’t be a quick correction.

[expat_panama]

"...1973 stagflation all over again? I just don’t know. But that chart just reinforces all the other data I am reading that we are in for some bad times..."

Seems you've been reading that Republicans make more stagflation than Democrats.  That's a lie.  "Stagflation" --inflation with falling gdp-- was worse with Clinton in '00 than it is now.   The worst stagflation was in the late '70's with Democrat Carter. 

[CRBDeuce]

Any nation that would elect Hillary Clinton as its president has forfeited its right to exist.

Great tagline...I know there are size constraints but it needs to be ammended: Any nation that would elect Hillary Clinton as its president has forfeited its right to exist. Any nation that would elect Hussein Obama as its president has forfeited its right to exist. Any nation that would elect Husein Obama/Hillary Clinton as its president/vice president has passed the final exam for entry into hell.