vrijdag 16 juni 2017

Housing Starts Suffer Worst Streak Since Jan 2009, Permits Plunge

For the first time since Jan 09, Housing Starts dropped for the 3rd month in a row in May, drastically missing expectations (-5.5% vs +4.1% exp.) with both March and April revised notably lower. Building Permits also tumbled in May and massively missed expectations (-4.9% vs +1.7% exp). No one saw it coming...


Worst streak of performance for Housing Starts since Jan 2009...


Both Single- and Multi-Family Starts tumbled. This is the lowest level for overall housing starts since September 2016...


And looking forward the picture is bad with both single- and multi-family-unit permits plunging...


Probably a good time to hike rates some more!!

Geen opmerkingen:

Een reactie plaatsen