Housing Starts Plunge

Wednesday 16 April 2008 | general

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?

1 Comment

  1. 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.”