New Home Construction Hits 27-year LOW

[ptradmin]

Based on a recent Reuters report this week, construction of new homes are the lowest in 27 years (based on February numbers). Additionally, the request for building permits fell to the lowest point ever before recorded. So, what do these numbers say about the current real estate and residential construction markets? I believe it points out that those influencing things still have no clear plan or path to bring about economic recovery. As you'd expect, given that scenario, the market is reflecting that. Despite all the stock market gains (Japan's recent situation notwithstanding), the real estate and construction markets are in step with the unemployment numbers and have yet to bounce back from the massive housing bubble of 2006. At this point the question is: what is going to truly kick start this economy and get things going again - not back to the levels of 2006, but just the historic norms?

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[PuttyMonster]

There was an upbeat article this week on MarketWatch. It's unbelieveable how much disagreement there is on this topic. One thing to state for certain is that anything positive is all future-prediction and not based on solid numbers. All of the measurable numbers are pretty depressing.