Struggling Starts
05/08/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, Housing Starts, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist
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!