Plunge in U.S. Housing Starts Nearly 50%
Abstract:
From a peak level of 2.292 million units of housing starts in January 2006 to their current level of 1.187 million units in November 2007, U.S. housing starts have plunged by 48%. Now for the good news. (1) Sales of existing homes are showing signs of stabilizing. (2) The number of unsold new homes has been on the decline since the midway point of 2006. (3) The dollar effect on top of the housing-price effect is stimulating Latin American, European and Canadian interest in resort properties.
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From a peak level of 2.292 million units of housing starts in January 2006 to their current level of 1.187 million units in November 2007, U.S. housing starts have plunged by 48%. Now for the good news. (1) Sales of existing homes are showing signs of stabilizing. (2) The number of unsold new homes has been on the decline since the midway point of 2006. (3) The dollar effect on top of the housing-price effect is stimulating Latin American, European and Canadian interest in resort properties.