November 18, 2009 9:20 AM
New U.S. housing starts in October unexpectedly fell to their lowest level in six months, weighed down by a sharp decline in new construction. Despite or perhaps “to spite” expectations for 600,000 new units, housing starts dropped 10.6 percent to a seasonally adjusted annual rate of 529,000 units, the lowest level since April and the percentage drop was the biggest since January.
Dan Alpert of Westwood Capital tells Tech Ticker that house prices are still too expensive with the large supply of new and old houses:
More on this topic
(What's this?)
Housing starts plunge
(The Mess That Greenspan Made, 11/18/09)
Housing starts flatline
(The Mess That Greenspan Made, 10/20/09)
How to Put a Touch of Glory in Your Life
(Money Morning, 1/18/12)
August Housing Starts Rise; May Delay Recovery
(The Value at Risk, 9/17/09)
May 8, 2009 12:35 PM
William Black interviewed on Tech Ticker:
