Chillin' out till it needs to be funded
Permits jump 5% as suspected with Housing starts coughing and sputtering the recovery engine as its plans to race shrink on shrinking possibilities for the future. Housing Permits grew to 717,000 and tomorrow in Existing home Sales and the Purchase report you will see the distressed sales growing and taking Hopi down ( Price index) and refinancing holding its more than three quarters share firmly at a 4% rate
Bloomberg mentions 30% growth in numbers of the 25+ also living with their parents on their first job.
January actually increased to 706,000 and February dropped on to the empty place at 698k though that is the third montha t these heights of the recovery. Single Family Auths were up to 450,000 close to last year’s total Permits number and 5 units or more were 219,000
Though I am still looking for Completions data ( and so is everyone else) I can’t find hope despite the 35% Y/Y growth in Starts that there is any improvements in completions as single family starts dipped 10% from last month’s revised data.