New House Starts Collapse Sending D O W Reeling

[Realistbear]

http://finance.yahoo.com/news/Home-construction-sinks-to-apf-3302765136.html?x=0&sec=topStories&pos=1&asset=&ccode=

WASHINGTON (AP) -- Home construction plunged last month to the lowest level since October as the economy remained weak and demand for housing plummeted.

But driving the June decline was a more than 20 percent drop in condominium and apartment construction, which makes up a small but volatile portion of the housing market. Construction of single-family homes, the largest part of the market, was down slightly. It dropped 0.7 percent.

Dow Jones Industrial Average( DJI: ^DJI )

Index Value: 10,062.93

Trade Time: 3:21pm

Change: 91.50 (0.90%)

[Laura]

D O W? - I thought what on earth?? - Dept of W???? - Then I realised it's only the USA, that almost irrelevant non-recourse land of short-life matchwood property

Calling it the 'Dow' causes less confusion RB

[Sour Mash]

The real DJIA is down 1.15% on the day, as I type this ....

[Fishman]

http://finance.yahoo.com/news/Home-construction-sinks-to-apf-3302765136.html?x=0&sec=topStories&pos=1&asset=&ccode=

WASHINGTON (AP) -- Home construction plunged last month to the lowest level since October as the economy remained weak and demand for housing plummeted.

But driving the June decline was a more than 20 percent drop in condominium and apartment construction, which makes up a small but volatile portion of the housing market. Construction of single-family homes, the largest part of the market, was down slightly. It dropped 0.7 percent.

Dow Jones Industrial Average( DJI: ^DJI )

Index Value: 10,062.93

Trade Time: 3:21pm

Change: 91.50 (0.90%)

A fall of less than 1% of the Dow is hardly 'reeling'.

But I suppose a topic title of "New House Starts Collapse Sending Dow down by less than 1%" doesn't quite have the same affect.

[Deckard]

A fall of less than 1% of the Dow is hardly 'reeling'.

But I suppose a topic title of "New House Starts Collapse Sending Dow down by less than 1%" doesn't quite have the same affect.

+1

RB, judging by some of your recent threads, one could be forgiven for suspecting you might be trying to get a job as a wail columnist

[soldintime]

A fall of less than 1% of the Dow is hardly 'reeling'.

But I suppose a topic title of "New House Starts Collapse Sending Dow down by less than 1%" doesn't quite have the same affect.

I am calling it the top. Just bought some short etfs on the S&P 500. QE2 will not happen before the november congres elections. The slide should be locked in before that.

[Mega]

........................& yet very little signs of it here in Blighty?

Mike