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June Housing Starts: +14.6% to 629K vs. 575K expected and 549K (revised) last month. Permits...

June Housing Starts: +14.6% to 629K vs. 575K expected and 549K (revised) last month. Permits +2.5% to 624K vs. 609K (revised) last month.
Comments (11)
  • interesting....
    19 Jul 2011, 08:38 AM Reply Like
  • stupid?
    19 Jul 2011, 08:41 AM Reply Like
  • I bet its mostly apartments again...
    19 Jul 2011, 08:46 AM Reply Like
  • The earth she is flat like your head.
    19 Jul 2011, 10:00 AM Reply Like
  • At least if there is a need for apartments, it means people are moving out of basements and their old bedrooms.
    19 Jul 2011, 10:24 AM Reply Like
  • Maybe it's the greeks fleeing their own country and coming here to borrow.
    19 Jul 2011, 08:51 AM Reply Like
  • No one likes to buy old.
    19 Jul 2011, 08:54 AM Reply Like
  • Better buy before 2 Aug and the interest rates zoom up
    19 Jul 2011, 09:05 AM Reply Like
  • As if we need more homes. With unemployment at 9.2% , a huge inventory of foreclosed homes and credit more difficult than pre-2008, this makes no sense. In order to fill all the pre-existing homes we need even more people qualifying under the laissez faire lending that made it possible to buy a home with a credit score of 500, with no job, and no down payment. While I can understand the desire of people to buy new, this only slows down an eventual housing recovery.
    19 Jul 2011, 10:17 AM Reply Like
  • that is assuming new and existing homes are identical.

     

    While I agree that we need continued tepid housing starts to constrain overall housing supply, the supply of just NEW houses was at low not seen since 1960.

     

    There are plenty of well to do people in this country will solid credit scores who want new, not existing houses. Starts cannot stay below 500k forever.
    19 Jul 2011, 10:27 AM Reply Like
  • Multifamily took the lions share with a 31.8% jump. The problem is the sample size was so small the the margin of error was over 33%. Single family up 9% with a margin of error of over 11%.

     

    So the data could be great, it could be really bad or it could be flat.

     

    With such large margins of error I'm not sure this report should have moved the market as much as it did. The headline hunters need to really read into the reports.
    19 Jul 2011, 10:45 AM Reply Like
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