Housing Starts Fall To 50 Year Record Low
Posted on Thursday, January 22nd, 2009 | In Stocks to Watch
Contributed by: Daniel Shepard (http://www.navivest.com/blog) -
Thursday January 22, 2009
Navivest
The Commerce Department today released housing starts numbers that showed that for the month of December 2008, builders began construction on just 550,000 residential units on an annualized basis.
This is a 15.51% drop from November’s revised 651,000 annualized number and a decline of 45% from December 2007. This is the lowest the number has even been, going back to 1959.
Economists had been looking for the number to come in at 610,000. Also, building permits, which measures the number of permits that were issued, so excavation can begin, dropped to 549,000 on an annualized basis, for the month of December.
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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