The Commerce Department reported that new-home construction starts increased 5% in December. For the whole year, new-home construction starts rose 6.4%--to 1.7 million units. This is the highest level of new-home building in sixteen years.
Slacker thank you for the posting; however, that is the type of general data that gets an appraiser in trouble. Your data should be specific to YOUR MARKET! I am fortunate to live in a growing community but that is not the case in many parts of the country.
<span style='color:blue'>Facts are facts regarless of regional activity. I didn't realize it was necessary to get in to Micro-Economics. I thought the "Commerce Department" part would tip everyone off that these are national statistics.
Let me re-phrase so I don't get in "trouble", what ever that means.
Generally speaking, there were 1.7 million housing starts. How's that?</span>
I've been saying I didn't believe there was any statistical data to support the housing bubble theory. The new housing starts would tend to support that assumption.
However, the forum certainly makes one think and challenges what we once thought to be fact. Some have written about the housing bubble, and their posts have caused me to consider the following;
before the stockmarket crash there were those running about sqauwking--"irrational exuberance, irrational exuberance." Well, Greenspan gave the original speech and then the Mina Birds chimed in. Point is, some economist saw something fundamentally wrong with the upper pressure in the stock market and were predicting it's collapse a year (maybe 2?) before it actually happened. The majority were busy having fun--wearing their party hats, and blowing on their party favors, all the while calling the irrational exuberance theorist 'party poopers.'
I wonder now if we're not going to see something similar take place in the housing market. Perhaps these comments are based on fact with the hangover yet to come???
Slacker, ol buddy, not that you could get in trouble posting such information...an appraiser who applies generalized data to a specific market could be in trouble. And yes, we practice micro economics all the time.