Boring nerds for a boring economy
That can't be good. Permits drop by half in a matter of months? IIRC, a large part of the economic "expansion" the past five years has been to a very busy housing sector. If houses aren't being built as they were, then construction workers won't have jobs. The question is how many and what kind of drag that will have on the rest of the economy.
Housing permits fall (above). Housing starts (on issued permits) rise (below). The stock of issued, unused permits must be plummeting. Some of these trends cannot continue indefinitely.
Post a Comment