An interesting picture on housing starts. The fact that starts are continuing to drop nationwide is a good thing. There’s a supply imbalance out there, and the best way to deal with it is to stop building new housing for a while. Interestingly, though, housing starts in the West are up considerably. Not sure what to make of that. Could be a sign of renewed enthusiasm in the West, an indicator that companies in the trenches see signs of demand. It’s certainly still hard to get financing to build housing in the West, so the people pulling permits must be pretty optimistic.
More Drop in Housing Starts = More of A Good Thing