Take a look at this morning’s Census Bureau report on May housing starts:
http://www.census.gov/const/newresconst.pdf
Then place the 560,000 figure in the chart.
Housing Starts
(Click on chart to enlarge.)
Recessions shaded
See any reason to cheer?
There isn’t any. And the economy can’t do what we want – prosper and provide jobs for all who seek them – until we do begin cheering about housing starts. But that won’t happen until we are on a solid trajectory to a report double that of today’s. And that won’t happen any time soon.
(The chart was taken from http://www.beyourowneconomist.com. [Click on Seminars and then Charts.] Go there for additional charts on the economy and a list of economic indicators.)
© 2011 Michael B. Lehmann
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