Housing Starts Down

[Edd Gillespie]

Just heard some government agency reported today that housing starts were down 12% in Nov 2004 under what they were in Oct 2004.

Maybe that confirms the sky actually did fall, oh ye of little faith. There's been guys on here for the past month telling us that things in the RE market are getting bad. They must right be 'cause now the government knows it and this administration is not one to complain.

Anybody feel the pinch?

 

[Dee Dee]

Edd,

Just about everyone connected to housing has been expecting things to cool off in 2005, so I expect we'll be seeing lots of articles about it. I think it's safe to say that anyone that has a job linked to the housing market who hasn't been squirreling away $$ for the slowdown is going to be feeling the pinch.

 

[Restrain]

Around here, they always slow down in the last quarter, with builders discounting their homes to move the inventory before Jan. 1.

Watch for a big pickup in the south by Feb, and the rest of the areas in March/April as the weather improves.