Democratic Underground - US housebuilding at 16-month high as repossessions rise

US housebuilding at 16-month high as repossessions rise [View All]

Cant trust em

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Fri Apr-16-10 12:34 PM
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US housebuilding at 16-month high as repossessions rise

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Source: BBC News

But the figures from the US Commerce Department also showed that the building of single-family homes fell 0.9% to 531,000 new builds a year.

The data is a key indicator of economic activity, but single-family building is the most closely-watched segment.

Overall, 626,000 new houses were built in the last 12 months.

This was higher than the 610,000 forecast by some economists.

The Commerce Department also said that applications for building permits, another barometer of activity, rose by a better-than-expected 7.5% to 685,000.

Read more: http://news.bbc.co.uk/2/hi/business/8625666.stm

Didn't we just see a huge number of foreclosures reported a few days ago? WTF?

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US housebuilding at 16-month high as repossessions rise [View All]