Feb
07
Housing Starts Reaction Indicative Of Negative Mood $XLB
ByWhen we woke up this morning we were under the impression that November housing starts were at a 1.1M seasonally adjusted annual rate. The number for December then came…
When we woke up this morning we were under the impression that November housing starts were at a 1.1M seasonally adjusted annual rate. The number for December then came in at 1.1M….essentially flat.
Now, we then got word that November was being revised up massively to a 1.8M annual pace and somehow we then made the jump that today’s number was bad because starts “fell”? We added a 700k home start annual pace to the aggregate number in November and December and this is bad? We should not that the 1.8M number is the highest November number since before the Great Recession…
