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Homebuilders expect a better 2010


The U.S. Commerce Department released their information about home builders, housing starts and construciton permits issued for December 2010. According to the Christian Science Monitor:

In December, housing starts fell 4 percent from November’s total, the Commerce Department reported Wednesday, a disappointing capstone to a year that was the worst for homebuilders since World War II.

Only twice in the postwar period have housing starts fallen below 1 million – in 2008 and 2009. Last year, builders started construction on only 553,800 homes, less than a third of the 2006 level. Even in 1928, when the United States had less than half the population it does today, homebuilders did better than that. (The comparison holds even though the government calculated numbers a little differently back then.)

This year looks more hopeful. The number of building permits jumped 11 percent in December over November’s level, reaching their highest level since October 2008.

You can link to the Christian Science Montor’s complete article by clicking this link.

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This entry was posted on January 20, 2010, 10:05 pm and is filed under General Info. You can follow any responses to this entry through RSS 2.0. Both comments and pings are currently closed.

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