Tuesday, March 20, 2012

Housing recovery still intact


February housing starts declined a bit, but the larger picture is that the housing recovery remains very much intact. Starts are up 35% over the past 12 months, and up 46% from their recession low. Starts of course still very low from an historical perspective, but they are improving and that is a very good sign that the residential real estate market has hit bottom, thanks to the combination of market-clearing low prices and low interest rates.

6 comments:

  1. Hi Scott. Just wanted to say thanks for your work on this blog. As a financial advisor, it's important for me to find information that is meaningful, based in fact, and minus the hype seen in mainstream press.

    Keep up the great work!

    Regards, Richard

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  2. FWIW, while traveling, I noticed that Blogger now displays very well on mobile devices. I think that is new, and probably related to other changes noted on the desktop. Pretty cool! It seems a new approach to web design is - rather than having different websites for desktop and mobile, you design a unified website that dynamically lays out for the given screen size. Anyway, for those that don't want to miss Scott's posts, it's pretty nice.

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  3. Actually, Blogger has offered a mobile display format for awhile, but I was unaware of it. I enabled that option a short time ago. It is indeed quite nice.

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  4. Let's be clear.
    Housing starts have likely bottomed.

    There is no evidence housing prices have bottomed.

    Not until we work through the 6M plus houses in some stage of foreclosure will that happen.

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  5. I'm surprised that a so kind person pictured with his lovely ... Could banner me for a simple critic. Remember me not to return to your blog!

    ReplyDelete