Posted on 12/19/2017 6:50:36 AM PST by John W
U.S. single-family homebuilding and permits surged to more than 10-year highs in November, in a hopeful sign for a housing market that has been hobbled by supply constraints.
Builders have struggled to meet robust demand for housing, which is being fueled by a labor market near full employment. Land and skilled labor have been in short supply, while lumber price increases have accelerated.
The Commerce Department said on Tuesday that single-family homebuilding, which accounts for the largest share of the housing market, jumped 5.3 percent to a rate of 930,000 units. That was the highest level since September 2007.
(Excerpt) Read more at cnbc.com ...
So what, Trump used two hands to take a drink of water. /s
All those invaders putting excessive use on our infrastructure.
More jobs than expected.
More economic growth than expected.
More housing starts than expected.
Obama’s followers told us that the growth he gave us was “the new norm”.
Trump doesn’t follow the norm and can’t meet expectations - time to impeach. /sarc
More jobs than expected.
More economic growth than expected.
More housing starts than expected.
Obama’s followers told us that the growth he gave us was “the new norm.”
And the fact their POS messiah has been exposed for the utter failure and liar he is, is what pisses off the left even more.
Your comment makes no sense. If you are referring to illegal aliens, they generally don’t buy newly built houses.
Buyers of new homes are generally people moving up from apt living or smaller older homes. New single family housing voucher starts is a very good thing for the economy.
They don’t? Then explain why Wells Fargo got into trouble for giving them home loans.
I believe they were buying existing homes, not new builds.
Houses that were going for $100,000 or less.
If they were new builds it was probably cracker box houses that used to be called starter homes.
Near my mom’s house an old farm has been sold.
In March of this year the new owner started building houses. From the outside they looked like cracker box starter homes.
There was an article in the newspaper that stated the selling price was $200,000.
We couldn’t believe it because this is an area where the average home price has been less than $100,000.
We went by and looked at one that was near completion. The builder was happy to let us see them.
Two bedrooms with nice Berber weave carpet and rebond padding.
Two baths with very nice tile flooring, oversized showers with from the ceiling shower heads and technowhiz controls.
Kitchen with granite counters, very nice and well built cabinets. Double door refrigerators. High end cooking arrangements. Not sure what to call them.
Very nice tile floor.
Full dining room with hardwood floor.
Full living room with hardwood floor.
All Windows are top of the line.
Each bathroom has a laundry drop going to the full basement where the washer and dryer are.
The basement is poured concrete with finished walls and ceiling.
The builder told us he was selling them faster than he can build them. As soon as he gets the basement poured people start throwing deposit money at him.
He has 7 completed, two under construction and land for six more.
He just bought 60 acres near me with frontage on US 460 that will raise the home values on houses built there.
Nothing in these areas was built during the Obama years. In fact, existing houses sat empty.
Local modular outfit has orders for over 400 homes stacked up. Won’t be laying off anytime soon.
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