U.S. housing starts unexpectedly fall for second straight month
Source: Reuters
Tue May 16, 2017 | 8:36am EDT
WASHINGTON - U.S. homebuilding unexpectedly fell in April amid a persistent decline in the
construction of multi-family housing units and a modest rebound in single-family projects, pointing to a slowdown in the housing market recovery.
Housing starts dropped 2.6 percent to a seasonally adjusted annual rate of 1.17 million units, the Commerce Department said on Tuesday. That was the lowest level since last November and followed a downwardly revised rate of 1.20 million units in March.
Economists polled by Reuters had forecast groundbreaking activity rising to a rate of 1.26 million units last month from a previously reported rate of 1.22 million units in March.
Homebuilding increased 0.7 percent on a year-on-year basis.
Read more: http://www.reuters.com/article/us-usa-economy-housingstarts-idUSKCN18C1GE?il=0
Achilleaze
(15,543 posts)* republican Draft-Dodger-in-Chief
bresue
(1,007 posts)Victor_c3
(3,557 posts)a lot of different indicators are pointing to an economic slowdown
democratisphere
(17,235 posts)IronLionZion
(45,380 posts)he'll know what to do.
Trump Taj Mahal casino sold for 4 cents on the dollar
http://www.latimes.com/business/la-fi-trump-taj-mahal-20170509-story.html
Sancho
(9,067 posts)or immigrant home buyers...
DK504
(3,847 posts)After 2008 we learned our lessons and won't put our lives on the line and move forward in our lives. We are protecting our selves so people don't lose their homes again.
It says single-unit housing starts increased.
It's apt. starts that are down. But one such start might be for 100 units.
Things in Houston really slowed down in the last year. They overbuilt. Six or seven "starts" near where I work accounted by themselves for maybe 2000 units. And I pass another dozen on the way to work.
Flaleftist
(3,473 posts)and I intend to stay in the area.
bresue
(1,007 posts)In the earlier years, and still not up to what they should be getting. Without strong wages, people cannot afford house payments, especially in this uncertain economy.
Dopers_Greed
(2,640 posts)Poor wage growth, housing slowdown, entire industries dying.
But record stock prices! And hotel/casino funding from Russia.
bucolic_frolic
(43,027 posts)Real estate where I'm at? In prime locale up 100% over 2010, yet
in not so prime hinterlands? A sprinkling of empty houses and non-rentals
It's all just sticks, land, labor. If you pay too much, you will never turn
a profit on it, and it sucks money for taxes, maintenance. Houses can
depreciate just like a car or an education.
They sell us PIE IN THE SKY
titaniumsalute
(4,742 posts)sinkingfeeling
(51,435 posts)not fooled
(5,801 posts)if, like the koch bros., you own lumber plantations in the U.S.