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Great News! Housing Starts and Permits Plummet!

Posted on March 19, 2008

Housing starts fell 0.6% in February and permits for new construction plunged 7.8% to the lowest level in 16 years. The housing report showed February starts were 28.4% less than the level of February 2007.Given that the enormous overhang in inventory is a huge part of the problem, this is, perversely good news. New Home StartsBuilding PermitsContinuing to add to the supply in this environment would be sheer madness. Source:Housing Starts Single-Family Units Post Largest Cyclical Decline on RecordAsha G. BangaloreNorthern Trusthttp://tinyurl.com/3xlfw8Housing Starts Slip While Permits D...

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housing , housing report , online