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18.02.26 - 16:45
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Amid Slumping Sales & Sentiment, Housing Starts & Permits Jumped In December (ZeroHedge)
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Amid Slumping Sales & Sentiment, Housing Starts & Permits Jumped In December
It would appear that homebuilders are desperately hoping for a 'Field of Dreams' year...
After seeing existing home sales collapse in January (not driven by the winter storms), US Housing Starts and Building Permits rose dramatically more than expected in December (+6.2% MoM vs +1.1% exp and +4.3% MoM vs +0.4% MoM exp respectively)...
Additionally, Housing Starts rose as Home Builders confidence crumbled (and Future Sales expectations dropped)...
The surprise monthly surge lifted the SAAR totals for both housing sector data points to multi-month highs...
Breaking down the headline data shows that multi-family building permits and housing starts soared (+18.1% MoM and +10.1% MoM respectively) while Single-Family Building Permits tumbled 1.7% MoM while single-family starts rose for the 3rd straight month...
However, the pace of construction continues to decline on a year-over-year basis.
Growth in permit demand was mo...
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18.02.26 - 16:42
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Housing Affordability Headwinds Persisting Across US (Bloomberg)
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Amy Rubenstein is the CEO of Clear Investment Group, a Chicago based firm specializing in opportunistic real estate investments in the distressed, mid-size multifamily sector in predominantly secondary and tertiary markets nationwide. She discusses how the bifurcated US economy is manifesting itself in the housing sector with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. (Source: Bloomberg)...
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18.02.26 - 15:01
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U.S. Housing Starts Surge 6.2% In December (AFX)
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WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Wednesday showed a sharp increase in new residential construction in the U.S. in the month of December.The Commerce Departmen......
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