Housing Starts Crater in August

The U.S. government is reporting that privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,283,000, which is 11.3% below than July’s revised number and is 14.8% lower than one year ago. August’s rate for units in buildings with five units or more was 334k. Privately‐owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,543,000, which is 6.9% higher than July’s revised number but is 2.7% lower than one year ago. Continue reading HERE...