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An Unexpected Rise In Housing Starts;Some Say Slump May Be Near Bottom

Author: Charles Feldman   • URL: http://www.thefeldmanblog.com
October 22nd, 2006   •  

By definition, news is –well–about new and sometimes unexpected things. Such is the case apparently with U.S. housing starts which surprised some experts by rising last month by an estimated 5.9%, according to a Commerce Department report.

Bob Willis,writing for Bloomberg and reported in the Detroit Free Press, says some believe “the housing slump may be nearing an end.”

Willis writes that “stepped-up construction in the Midwest and the South made up for declines in the Northeast and West.”

Before this surprise increase, housing starts in the U.S. had reached a three year low. But,for the first time in a year, Willis reports, there is an increase of home builder confidence.

 

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2 Responses to “An Unexpected Rise In Housing Starts;Some Say Slump May Be Near Bottom”

  1. NLG | 23/10/06

    Count my fingers crossed!

  2. » Housing Slump May Be Near Bottom - MoreMerchant.com Merchant Accounts, Credit Cards, Improve your Credit, Make Money on Your Blog » Housing Slump May Be Near Bottom | 23/10/06

    [...] My friend at bigger pockets says that the slump in real esate may be over. [...]

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