Lowest since March of 1997, another nice sized wall of worry to climb. In a way though, I doubt this bit of bad news will be well recieved-as the housing market represents to our economy what the auto makers used to when I was young. There will be a lot of people affected by SLOW building, and "mom and dads" home value is QUITE important to them.
Building permits hit 10 year low
Started by
thespookyone
, May 16 2007 08:28 AM
2 replies to this topic
#2
OEXCHAOS
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Mark S. Young
Posted 16 May 2007 - 09:08 AM
Good for inflation in building materials, though!
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#3
fib_1618
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Posted 16 May 2007 - 09:15 AM
I actually don't see the economic consistency between homes and autos, but it does make perfect sense to me that this figure fully reflects the tighter credit market after the hurt earlier this year in the mortgage area....as the housing market represents to our economy what the auto makers used to when I was young
Fib
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