Building Permits

Fundamentals 7/19: Housing Starts Better But Still Low

Housing -Housing Starts (annualized): 629k June vs. 549k May, highest since Jan. -Housing Permits (annualized): 624k June vs. 609k May -Homebuilder confidence flat in June (from 7/18) -Graphs below puts Starts/Permits in perspective -There must be 1.5m Housing Starts a year to keep pace with population growth assuming that the number of people per household

Fundamentals 6/16: Housing, Jobs Better. Manufacturing Worse.

Housing: -May Starts 560,000 (annualized), up 3.5% from April, above 540k expected. -May Permits 612,000 (annualized), up 8.7% from April, most in 2011. -We need about 1,500,000 Housing Starts a year to keep pace with population growth and units scrapped to disaster or obsolescence. Jobs: -414,000 for week ended June 11, down 16,000 from previous