U.S. housing starts unexpectedly fall for second straight month

[DonViejo]

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]

1. Thanks, republican Comrade Casino*

* republican Draft-Dodger-in-Chief

[bresue]

8. AND IT ONLY TOOK 110 DAYS!!!!

[Victor_c3]

2. retail is dying and ford also plans to cut labor costs by 10% too

a lot of different indicators are pointing to an economic slowdown

[democratisphere]

3. The drumpf economy is sinking.

[IronLionZion]

4. Don't worry, we have a brilliant real estate genius in the white house

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]

5. no immigrant workers...

or immigrant home buyers...

[DK504]

6. Why the hell would any body buy a house right now?

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.

[Igel]

14. And yet

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]

15. I did because it is cheaper than renting

and I intend to stay in the area.

[bresue]

7. WAGES HAVE NOT KEPT UP WITH THE RECOVERY...MANY HAD TAKEN CUTS

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]

9. The Trump Economy

Poor wage growth, housing slowdown, entire industries dying.

But record stock prices! And hotel/casino funding from Russia.

[bucolic_frolic]

10. Prices are way up, it's a sucker's market for PIE IN THE SKY

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]

11. Trump will blame Obama

[sinkingfeeling]

12. Yeah, and starting a trade war on lumber from Canada was a great idea.

[not fooled]

13. Hey, it was a great idea!

if, like the koch bros., you own lumber plantations in the U.S.