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.)
(To be fully
informed visit http://www.beyourowneconomist.com/)
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