May
08

Struggling Starts

At 350,000 starts/year, multifamily housing activity has largely returned to pre-recession levels. However, at 650,000 starts/year single-family activity remains mired in levels only seen in recessions, despite an economy about to enter the sixth year of a recovery. Were single-family starts to reach one million, the average level since 1959, it would create a million more decent paying jobs and reduce the unemployment rate by seven-tenths-of-one-percent. Home sweet new home!

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