THE BASIS POINT

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%

 

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