Housing Starts Remain Weak.
Housing Starts (May 2016)
– Starts seasonally adjusted, annualized 1,164,000. Previous was 1,167,000
– Permits seasonally adjusted, annualized 1,138,000. Previous was 1,130,000.
Not only are Housing Starts below the needed level of 1,500,000 but the gains are concentrated in 5+ unit apartment buildings. Homeownership is becoming more difficult and depriving
middle-class people of the advantages associated therewith.
Atlanta Federal Reserve Business Inflation Expectations (June 2016)
– Business Inflation Expectation year/year +1.8%. Previous was +1.9%