The record low U.S. housing starts is actually good news. After the record (over) production during the boom, there was ultimately only one way to bring supply back into balance.
Since the peak in new home sales was in mid-2005, it’s surprising how long it took builders to get the message. Actually, they never got the message, many just built until their money was cut off and they went out of business.
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Whizzer 05.28.09 at 2:52 pm
An enlightened post. I can remember a few months ago when news like this would send the stock market DOWN. I’d be like “dang” and think to myself - what you just said.