Academic

STIMULUS! HOUSING STARTS FALL TO RECORD LOWS: ?New U.S. housing starts and permits unexpectedly fe?

By Glenn Reynolds

STIMULUS! HOUSING STARTS FALL TO RECORD LOWS: “New U.S. housing starts and permits unexpectedly fell to record lows in April, a government report showed on Tuesday, denting hopes that stability in the housing market was imminent. The Commerce Department said housing starts fell 12.8 percent to a seasonally adjusted annual rate of 458,000 units, the lowest on records dating back to January 1959, from March’s upwardly revised 525,000 units. . . . New building permits, which give a sense of future home construction, dropped 3.3 percent to 494,000 units, the lowest since records started in January 1960,”

Full post as published by Instapundit.com on May 19, 2009 (boomark / email).