Housing Recovery: Housing Starts at 4-Year High

[Jordan]

Starts rose 3.6 percent to a 894,000 annual rate, the fastest since July 2008 and exceeding all estimates in a Bloomberg survey, Commerce Department figures showed today in Washington. The median estimate of 82 economists called for starts to fall to a 840,000 pace. Building permits, a proxy for future construction, eased after surging the previous month.

“Housing is absolutely going in the right direction,” said Harm Bandholz, chief U.S. economist at UniCredit Group in New York, who projected 870,000 starts at an annual rate. “Excess supply has been wound down and there’s a steady increase in demand. That’s good for construction.”

http://www.bloomberg.com/news/2012-1...year-high.html

Banks can't keep up with all the good news in housing, either:

U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates.

http://www.bloomberg.com/news/2012-1...year-high.html

[tod evans]

Boots on the ground calling bullshit!

I haven't seen any type of rebound here in the sticks..

[angelatc]

Michigan isn't average, but the supply here is anything but depleted. My husband and I can spot abandoned homes before they're listed.

[Jordan]

Boots on the ground calling bullshit!

I haven't seen any type of rebound here in the sticks..

Housing is local. Sorry to hear your area is weak.

[Jordan]

Michigan isn't average, but the supply here is anything but depleted. My husband and I can spot abandoned homes before they're listed.

Shame - you guys have the best summer weather the world has ever seen.

[BAllen]

Boots on the ground calling bullshit!

I haven't seen any type of rebound here in the sticks..

What they're not telling is how many wind up in foreclosure. Someone needs to tell them the sham election is over. They can stop lying now.

[angelatc]

Shame - you guys have the best summer weather the world has ever seen.

Indeed. If I had more money, I'd buy more homes. Every week I see one for around $50,000 that I would love to add to a portfolio.

[jclay2]

U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates.

This time is different! Certainly, there is no chance that a fed induced housing bubble will result in tears!! I guess I am feeding the troll, but someone needs to respond to your nonsense. Seriously, this is the third or fourth thread you have posted without once mentioning the federal reserve or falsified government economic numbers. This is a full blown ponzi at work. Don't get caught on the wrong side, when the ponzi reverses itself.

[oyarde]

Bank stocks have been sliding and they have been laying people off .

[Brian4Liberty]

And what is the Federal Reserve going to do with all of the mortgages they are buying from JP Sachs with QE-Infinity money?