Friday, Feb 16, 2007
More dire news out of US housing market
cnn: Housing starts plunge
It just keeps coming - the lowest level of new housing starts for 10 years. Bare in mind that a significant portion of the new jobs created in the US economy in the past 6 years have been in construction and you can see where this is all going........
Posted by andy h @ 07:38 PM (144 views) Add Comment
4 Comments
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1. sovietuk said...
What's this? Seems like a major headline to me. Elsewhere I'm surprised that the BBC is a little slow off the mark about all this. Or is the truth sometimes a little inconvenient? Mr reality is coming to spoil the party.
2. enuii said...
Bad news for UK construction workers to in the near future as well when developers realise they can't shift all those grotty little apartments (sorry flats) they are frantically building.
3. dohousescrashinthewoods said...
Ai caramba. The sky is falling.
Seems to have turned pretty quick. All that talk of a soft landing, as we moaned at the time, was indeed a crock of spin.
How fast do people think the UK could turn, given we are getting weaker stats already?
Cooked Goldilocks Goose with a side of Gopher before the year is out?
4. Taffee said...
stunned to see mortgage equity withdrawal equalled 2% of the gdp growth in the US!....thats 2%...amazing.Add 1% coming from construction and I reckon the states are in big big trouble......credit crunch coming too.