Senin, 27 September 2010

The dismal state of the new home market

New building permits are near an all-time low:


New housing starts are near an all-time low:


And new home sales are at rock bottom:


The gray portions of the graphs indicate recessions. As you'll notice, a recovery in new home construction has been an essential part of almost all economic recoveries. ...But we're not getting that this time.

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