Good News on Housing

By May 16, 2008Economy

Well, what do you know.

NEWS ALERT
from The Wall Street Journal
May 16, 2008
Home construction turned up unexpectedly in April and showed surprising vigor, making the biggest increase in two years, while building permits also rose, a sign of optimism for the sickly housing sector. Housing starts increased 8.2% to a seasonally adjusted 1.032 million annual rate, driven higher by a surge in apartment building construction, the Commerce Department said. Starts plunged by a revised 13.8% in March to 954,000. Economists expected April starts to drop by 1.4% to a 934,000-unit annual rate.

Join the discussion One Comment

  • Karl says:

    It’s funny how the market works. It’s great that “housing” construction is up but disturbing that the main reason for that is so people who used to own houses they can no longer afford can find a place to live………………………

    driven higher by a surge in apartment building construction,………………………………………

    I’m sure soup kitchens are doing great business right now too. If that makes you feel good about this economy then go for it.

Leave a Reply