From the Wall Street Journal:
Housing starts decreased 12% to a seasonally adjusted 947,000 annual rate, after falling 0.7% in February to 1.075 million, the Commerce Department said on Wednesday. Originally, Commerce reported February starts 0.6% lower, at 1.065 million. Building permits also dropped in March. (WSJ)
Twelve percent?!
Anyone really believe the housing slump is going to end any time soon?
People should not be afraid to buy homes they can afford. A lot of folks made a mistake in buying homes to “flip” in a few years – as an “investment”. This “home bubble” bursting will eventually go away – may take 5 years but like all “bubble” they are self healing in a strong economy. At that time you’ll realize the value of investing in a “home” and not an “investment.”