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US: More signs of a weak housing market emerge

Posted on 17 December 2010

From Latimes.com: National housing starts were up 3.9% from October, but down 5.8% from November 2009. Meanwhile, permits, which some economists view as a steadier view of builders’ intentions and less influenced by seasonal variations, were down 4% from October and 14.7% below November 2009.
Patrick Newport, U.S. economist for IHS Global Insight, had this to say: Housing starts remain depressed for three main reasons. First, the jobs recession has sharply reduced the rate of household formation, which has led to “doubling up” and a drop in immigration……………………………………….Full Article: Source


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