On the heels of reports from the Labor Department that illustrated a huge spike in January employment, new reports from CNN strengthen the idea that the economy and the housing market are headed for a rebound.
The U.S. economy added more than 243,000 jobs in January, marking the fifth month in a row employment numbers have increased.
Today, reports from CNN Money say that construction of new homes is off to a robust start this year as Census Bureau data confirms housing starts have increased to an annual rate of 699,000.
While this increase is only 1.5 percent higher than the December numbers, these housing starts were nearly 10 percent higher than last year’s at this time.
Building permits for January came in at an annual rate of 676,000, a 19 percent increase from January of last year.
These numbers more than surpassed industry predictions that forecasted nearly 30,000 fewer housing starts for January.
These signs are indications that the economy and the housing market are headed down the right path, making 2012 a great year to buy a home!
Read the entire story about the strong start to 2012 home construction at CNN Money.
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Slappey, Slappey, Slappey…
I see you’re at it again! Hack reporting with no analysis.
Good job! Okay Mr. Dolt…let me provide you some insight on the supposed
699K starts. Fist off, they are S.A. figures. They will wind up being revised downward no doubt.
Secondly, and this is the MOST important metric, which so conveniently left out…
Completion to Starts. What? I can almost see your dumbfounded gaze…
For every 3 houses started, ONE NEVER gets completed. (by design)
Big builder ploy…It’s the “Phantom Buyer” I wrote about last year.
So, One Third of all starts, sit idle and empty. 33% of the starts.
How does that figure skew the monthly published numbers Slappey…
Gee, I hope you can at least decipher that one.
As far as UE goers, the highly volatile weekly Initial Claims is again S.A.
Unadjusted claims were above 361K. Also, 23K have expired their EUC.
According the illustrious BLS, they have vanished. Really? Of course they haven’t.
But that’s government deception for you. A better metric, again, which you FAIL
to address, is the continuing claims. As millions fall out of the LFP, the U3 number
will ARTIFICIALLY tumble. You can’t be that stupid, can you?
ALL leading indicators are flat to negative. Real retail sales for December was revised to 0.0%!
January’s sales figures posted a 89 Billion dollar decline form December. Unadjusted. The largest drop in U.S. history. UE is up and worsening. Sales are down and declining. Housing foreclosures are UP and rising. Sales are down, median prices are down. Wages are flat.
Gasoline is rising, food is rising. Purchasing power is declining rapidly and our economy is tanking.
Stop the damn rhetoric already I’m getting sick and tired of the lies and deception from you and your kind. The government data is bullshite.
If you see Fraud and you don’t shout Fraud…YOU ARE A FRAUD.
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