Friday, February 16, 2007

More dire news out of US housing market

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 (490 views)
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4 thoughts on “More dire news out of US housing market

  • 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.

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  • 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.

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  • dohousescrashinthewoods says:

    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?

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  • 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.

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