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These guys who write newspaper headlines are getting me down. Here's the Wall Street Journal's online head: "Housing Starts Jumped in June."
Bloomberg proclaims: "Housing Starts in U.S. Unexpectedly Climb to Highest Level in Seven Months"
The Christian Science Monitor says:"US home construction recovering."
With that preparation, take a look at the latest data:
Wow! Isn't that a real jump, a real recovery. Ho hum.
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It's all hyped up. What about the foreclosures that are on the rise? 1.5M in the last 6 months and spreading to other states. Combine foreclosures with starts and you have more supply, probably leading to softening of prices - good news for buyers? It's even worse in India where the housing market is highly inflated!
Posted by: Kishore | July 18, 2009 at 06:48 AM