New Residential Construction Report: January 2014

Feb. 19, 2014 1:34 PM ETREZ, RTL-OLD
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Sold At The Top

Today’s New Residential Construction Report showed a notable declines to both total permit activity and total start activity with starts dropping a whopping 16% from December.

Single family housing permits, the most leading of indicators, declined 1.3% from December to 602K single family units (SAAR), and increased 2.4% above the level seen in January 2013 but still remained well below levels seen at the peak in September 2005.

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“Sold At TheTop” is the snarky pseudonym for the organic blogger that maintains the reasonably popular blog PaperEconomy ( “Sold”, as he prefers to be called is not a professional economist, analyst or stock trader and has neither been trained in finance nor statistics. What Sold offers is a dedicated and serious passion for macroeconomic analysis and further, for the creation of striking, some say even artistic, visualizations of macroeconomic data. Though not a “perma-bear” Sold is very bearish about the current state and future of the American economy. Sold is NOT A PESSIMIST by nature but a true skeptic and a realist that prefers solid and sustained evidence of fundamental economic recovery to “Goldilocks”, “Green Shoots”, “Mustard Seeds” and wholesale speculation. Further, Sold believes that the evidence for rational and efficient markets as well as collective wisdom is scant. In his spare time Sold works as an independent software consultant spewing out cutting edge code like he’s spraying silly string.

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