Construction of new homes surged in Aug.

[RamboLiberal]

Source: MSNBC/AP

Home construction surged 10.5 percent in August from a month earlier to a seasonally adjusted annual rate of 598,000, the Commerce Department said Tuesday. That's the highest level since April.

Applications for building permits also grew. The gains were driven mainly by apartment and condominium construction, not the much larger single-family homes sector.

Pulling the figures up was a 32 percent monthly increase in the condominium and apartment market, a small portion of the market. Single-family homes, which represented about 73 percent of the market in August, grew more than 4 percent.

Housing starts are up 25 percent from their bottom in April 2009. But they remain 74 percent below their peak in January 2006. Single-family housing starts are up 11 percent from their low point in January 2009, but down 78 percent from their peak in January 2006.


Read more: http://www.msnbc.msn.com/id/39284971/ns/business-real_estate/

[Arctic Dave]

1. I wonder what the size of these homes they are building are?

The lake we live by has about 18-24 pre-owned high end homes for sale on it. I wonder who they think they will find to buy these things at 800,000 and up.

[Bigmack]

2. I'm wondering if people with money....

are building their own homes... having them built. Cheaper than buying a spec-built home with big profit to the builder.

I wonder if they are just hunkering down in a new home better designed for hunkering down.

I know if I had Money, I would have a somewhat different house built on a bigger piece of land... better prepared for what I think is coming.

[groundloop]

3. Little by little the country's getting out of the ditch Bush drove us into

Now let's all make sure we don't give those bastards back the keys in November !!!!

More and more goode news. Before too long people won't be able to ignore it any more.