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Deprecated: Creation of dynamic property ReduxFramework::$apiHasRun is deprecated in /home/bestsoca/public_html/marketmakeredge.com/wp-content/themes/salient/nectar/redux-framework/ReduxCore/inc/class.redux_api.php on line 118 Housing Starts Plunge Most In 3 Years; Permits Tumble – Miss By Most In 7 Months – Market Maker Edge Trading in Multiple Markets Deprecated: Creation of dynamic property ReduxFramework_typography::$parent is deprecated in /home/bestsoca/public_html/marketmakeredge.com/wp-content/themes/salient/nectar/redux-framework/ReduxCore/inc/fields/typography/field_typography.php on line 51
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>
It seems once again that ‘economists’ and ‘analysts’ misunderstood the weather in winter is cold. Housing Starts dropped a stunning 16% MoM (from an upwardly revised December data) for the biggest miss since June 2013 (and 8 of last 10 months missed expectations). This is the biggest MoM drop in 3 years. Building Permits – more problematic for the weather blamers – also plunged (by 5.4%) missing expectations by the most since June. However, what is the biggest slap in the face for the ‘weather-blamers’ is the collapse in Permits for the West (-26%) while most other regions improved.
Permits missed by most since June back to mid-2013 levels…
Permits on a non-seasonally adjusted basis are cratering, and barely above January 2013 levels.
Starts plunged – missing 8 of the last 10 months..
Starts for single family houses: SA vs NSA – disaster.
Housing Starts dropped 16% MoM – the 3rd most in 20 years