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The mini rally in homebuilders is quickly snuffed out after housing starts post their steepest...

The mini rally in homebuilders is quickly snuffed out after housing starts post their steepest drop since 1984 and permits fall to their lowest level in more than 40 years of record-keeping. High Frequency Economics sees the report as a single-month "fluke,"citing a “spectacular collapse” in the multi-family component. KBH -2.5%, LEN -1.8%, RYL -1.7%, MDC -1.7%.
Comments (1)
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    I never quite understood why it was good news to see start-ups increase in the first place (or understood why home builders were rallying) when there are still a freakin' gazillion existing homes on the market with no buyers in sight and with more homes likely coming onto the market if the foreclosure mess at various banks ever gets resolved. How, exactly, is building *more* homes to stand empty on top of all the empty existing ones a good thing?
    16 Mar 2011, 10:21 AM Reply Like
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