Housing Starts Contract Once Again

The marathon seems to continue on as housing starts can’t seem to find stability in this extremely weak economy. The Commerce Department announced that the overall pace of housing starts contracted yet again in January, extending its current streak of month-over-month declines to seven. More specifically, 466,000 new houses broke ground in January compared to the 550,000 started in December. Below even more historical levels, activity in the housing sector is currently growing at a rate acutely below that of its potential. Looking ahead slightly, trends in building permits offer little reprive as 521,000 permits where pulled last month for future construction.

While it seems the housing industry is still in the state of shock, housing activity does have the distinct potential to rebound rather quickly as the economy re leverages itself over the long-run. As constuction workers in this industry know right now, the two key themes are patience and survival!

Let’s keep our chins up!

Related Articles

• U. S. Housing Starts Surge
• Housing And Constructuion Industry Stats For January’s 1st Week
• January Construction Statistics
• Latest Housing And Construction Industry Statistics
• Lumber Demand to Take a Dip

 

You can connect with us via social media sites at

 

  Stay up to date with Power Tool News, Reviews, Woodworking and more with our Newsletter.

 

 

If you like this page or our website, feel free to buy us a beer.