housing starts up

[Truthmatters]

Housing Starts Join U.S. Factories Topping Forecasts - Bloomberg



Housing starts and industrial production exceeded forecasts in April, pointing to strength in the U.S. economy at the start of the second quarter.

Starts rose 2.6 percent to a 717,000 annual rate from March’s revised 699,000 pace that was stronger than previously reported, Commerce Department figures showed today in Washington. Industrial production climbed 1.1 percent, the most since December 2010, the Federal Reserve said.

 

[Truthmatters]

poor poor cons

 

[Douger]

[ame=http://www.youtube.com/watch?v=MaTfzYDZG8c&feature=related]A very human-like robot invented by Japanese engineers - YouTube[/ame]

 

[Truthmatters]

spaming the facts wont make them go away

 

[Mad Scientist]

From the comments section of the article:

While there are several kernals of fact to this report, it is nonetheless unbalanced, overly optimistic, and fails to keep perspective. (Just like TM ) Basically another report from Bloomberg putting lipstick on a pig. Manufacturing is just 13% of GDP. It has fallen off a cliff and is one reason our economy is unbalanced. If it was to grow to 20% of GDP we would have something to cheer over. Building permits decreased precipitously in April. What does that portend about the future? I'll guess housing goes down again next month (although it is expected to be a robust time of year for housing in general). In the end, much to do over what is an uneven recovery of ups and downs. More BLS mining that passes as Journalism from Washington.

 

[waltky]

Isn't 'loosening lending standards by banks and mortgage lenders' what got us in this mess to begin with?...

Fed Governor: Housing Recovery Needs a Lot of Help
5/16/12 --- A Federal Reserve Governor says the U.S. housing market is mending, but would do a lot better if much-needed reforms were enacted, chief among them loosening lending standards by banks and mortgage lenders. Until that happens, expect a weak housing recovery.

Elizabeth Duke, a Federal Reserve Board Governor, spoke to a group of realtors at the National Association of Realtors Midyear Legislative Meetings & Trade Expo in Washington, D.C. on May 15.

In her speech, Duke warned the real estate industry that a sustainable housing recovery depended on action from Congress and federal regulators to stabilize the U.S. mortgage market -- no sure thing, given the "difficult decisions" that had to be made but are often ignored by politicians.

"It is difficult to think of a single prescription that by itself will generate a sustainable recovery in housing," Duke said. "At the same time, I do see policies that I believe will help reduce the shadow inventory of houses in the foreclosure pipeline. I also see policy actions that could be taken to improve credit availability for potential homebuyers and, in turn, demand for houses."

Duke notes demand is weak for home purchases, as consumers either sit on the sidelines waiting for prices to fall further, or won't pull the trigger because of fears they may lose their job and won't be able to make their home payments. But a larger reason may be that otherwise credit-worthy consumers can't get a loan to buy a home.

"Unfortunately, some buyers who would like to purchase a home are unable to do so because they are unable to obtain a mortgage," she says. "According to the Federal Reserve's quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), underwriting standards for residential mortgages tightened steadily from 2007 to 2009, and they do not appear to have eased much since then."

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[Truthmatters]

why so down on good news?

 

[iamwhatiseem]

Once again TM fails, and falls for a headline...like the 1,000,000th time now.
Look at the below Graph.
Red is home vacancies...number of houses abandoned and unsold.
Blue - is housing starts.

This says it all, and once again looks at the data longer than a snapshot which is meaningless.
It is like being thankful that your bleeding to death by only 6 wounds rather than 7.

edit - also yuo can see the insanity of the bubble..vacancies were on a steep rise at the same time house starts was up.
Also - of course house starts is a faaaaaaaaaaaaar cry from home completions.

 

[percysunshine]

Truthmatters should get credit for everything good in the universe and is absolved for causing anything bad in the universe. The entire Universe.