[autumnraine]

Not to mention the construction workers who aren’t working on new starts, commercial is just as bad.

Oh yeah, and does unemployment take into consideration those who were sub-contractors and won’t qualify for unemployment? If not, and we calculate in those subs, unemployment is waaayyy higher.

[TCats]

Yeah, they are only rivaled in their cheer leading by the CNBC Cheerleaders.

These Housing number are bad given that Mortgage Rates were at historic lows during the period. Now, in just one month they have jumped about .75%, something that will put a crimp in Housing going forward.

[jiggyboy]

The main factors making this April pretty good (relatively speaking of course) for home sales:

- lowest mortgage rates in many many years, at or below 5% for most of April and May

- lots of foreclosures coming on the market (up to 2/3 of sales in some areas), some at 2/3 or more off their bubble highs

You can call these distortions, but the foreclosures as a high percentage of sales is going to be a reality for some time to come.

[dangus]

2nd-worst number in decades. April was worse.

[org.whodat]

Facts and ants aways spoil the picnic.

[Petronski]

I have green shoots in my onion patch.

That’s about it.

[Nachoman]

A big percentage of a small number is still a small number.

[Uncle Miltie]

"Single-family housing starts rose in May for the third straight month, fresh evidence the beleaguered housing market is beginning to stabilize." - WSJ Today

We've turned the corner from the bottom, which was admittedly a horrid low.

[Uncle Miltie]

"Housing sales always are greater in April than in February"

Which is why they are "seasonally adjusted" to take account of that fact. Doesn't this author read?

[GeronL]

That rebound is going strong eh!

[AceMineral]

smoking frog?

[JPJones]

Zach Pandl at Nomura Securities in New York, for example, explained: "This (housing) starts report is actually very encouraging…”[iii] What kind of weed are these people smoking?

In addition when unemployment hit a 28 year high just a week ago, that was spun as "good news" on wall street. Dow up that day.

The news (obviously) and the market is being manipulated.

[diverteach]

It’s way worse than that where I live here in Florida.

As a sub contractor who had 4 to 5 jobs going on a week during the boom years I’ve had ONE in the last 3 months.

All the contractors I work with had 4 to 5 houses under construction at any given time are either gone or working on finishing thier last house with none in the works.

[StormEye]

"Six Flags, which owes billions of dollars to its creditors, has filed bankruptcy. Extended Stay Motel chain, which owes billions more, joined them in bankruptcy court."

Just heard on the radio today that the Eddie Bauer (sp?) clothing store chain is filing for bankruptcy. Thank you phony American President Barack Obama and your Democrat Party for the terrific economy you're creating for America.