Wednesday, July 18, 2012

Housing Starts: Big Jump

The Lehmann Letter (SM)

Housing starts enjoyed a big jump in June to 760,000 the Census Bureau reported today:

Let’s hope that’s the sign of recovery that many optimists have said we would soon see.

Now take a look at the chart and update it with that 760,000 figure (the chart’s scale is in thousands, so just use 760). Then ask yourself how far we have to go before housing starts are anywhere near normal. 

Housing Starts

(Click on chart to enlarge)

(Recessions shaded)

It will be a while, won’t it?

(Summer season: The Lehmann Letter will be in summer-vacation mode during July and August.)

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© 2012 Michael B. Lehmann

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