Great News! Housing Starts and Permits Plummet!

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 Starts

Building Permits


Continuing to add to the supply in this environment would be sheer madness.


Housing Starts – Single-Family Units Post Largest Cyclical Decline on Record
Asha G. Bangalore
Northern Trust

Housing Starts Slip While Permits Drop Sharply
WSJ, March 19, 2008; Page A2

Category: Data Analysis, Real Estate

Why Has Bear Stearn’s Stock Been Rallying?

Category: Corporate Management, Derivatives, Psychology, Short Selling, Trading

Comedy Central on The Economy

For our UK friends who may not have access to TDS: several moments of lighthearted hilarity:

The Daily Show on Bear Stearns:

Stephan Colbert on the Economy:

Aasif Mandvi reports on the Bear Stearns bailout while experiencing gravitational altitude correction

I talked to guy about 300 feet ago . . .

Category: Economy, Markets, Psychology, Television, Video

Bear on eBay

Category: Corporate Management

March 17, 2008 Kudlow & Co: Economic Realist Version

Here’s last nite’s WTF Glass Steagel video: embed video click for video

Category: Media

FOMC: 75 BPs

Category: Economy, Federal Reserve, Inflation, Real Estate

A Social View of the FOMC

Category: Federal Reserve

Media Appearance: CNBC’s Morning Call (3/18/08)

Category: Media

Housing: US vs Japan

Category: Credit, Real Estate

Contrary Indicator: Page Views Skyrocket!

Category: Contrary Indicators, Markets, Trading, Weblogs