I’m off to give my presentation, but before I go, here is a quick chart on Single Family Housing Starts, which disappointed:

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New Privately Owned Housing Units Started (NSA)

click for bigger chart
200910-housing-starts
Source: Census Bureau

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Thanks, RM!

Category: Real Estate

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “Single Housing Starts”

  1. Free Market Extreemist says:

    Now invetory will burn off even quicker with no new supply!

  2. phb says:

    Not sure why anyone is surprised by this…

  3. winstongator says:

    Shouldn’t the chart have some sort of normalization to total population? Wouldn’t you expect more housing starts with a population of 300MM than a population of 200MM? That makes today’s numbers look even worse…

  4. bsneath says:

    The Bad News – Housing starts fall over 10%

    The Good News – Hey its only 63,000 houses per year!!!

  5. HarryWanger says:

    NHAB not only told us this yesterday but even revised down their own “poll” from the previous month.

  6. HarryWanger says:

    Time for Art Cashin to retire:

    ““[Housing] starts were down very sharply, but that might be weather-related because permits were only down slightly and if you’re a contractor and you’re having a rainy week, you might want to hold off on building a new home so you don’t get the added cost of doing it,” Cashin told CNBC.

    “So you have to look under the headlines to see if it’s perhaps weather-related.”

    There are soooo many things wrong with that statement that you have to wonder, is it time for Arty to hang up his jacket?

  7. torrie-amos says:

    Come on, Art get’s a pass on that one, he bats about .862 so he wiffs a few.

  8. bsneath says:

    Liesman this morning was perplexed with the big fall in housing starts after so many months of below average starts . “What are people living huddled in a one room apartment or something?”

    Steve, the answer is no, but you are close. There are a lot of multi-generation homesteads out there and not much appetite to take on homeownership risks at the moment. Plus many second homes are being unloaded. And population growth is slowing. H1B visas down and workers going home.

  9. cortezj29 says:

    Housing starts are also down because in some areas of the country it is cheaper to buy a REO home coming off forclosure than the cost of building a home from the ground up. For me, existing home sales is the true barometer.

  10. HCF says:

    Hmmm… thousands and thousands of foreclosures, thousands of rental units empty, college kids graduating with record debts and no jobs, and credit tight for developers and buyers. In all seriousness, why are ANY houses being built right now?

    HCF