Housing starts at 4-month high (up 11%)

[Peacetrain]

http://news.yahoo.com/s/nm/us_usa_economy


WASHINGTON (Reuters) – Groundbreaking for new homes jumped in August to a four-month high, a tentative sign of stability in the housing market after steep declines brought by the end of a homebuyer tax credit.

Analysts said the data on Tuesday, which came as Federal Reserve policymakers met to assess the economy, further allayed fears that the recovery from the worst recession since the Great Depression was at risk.

It also strengthened the argument against the U.S. central bank announcing any new monetary policy easing steps at the end of Tuesday's meeting.

"It suggests we have hit bottom (in housing)," said David Wyss, chief economist at Standard & Poor's in New York.

[livetohike]

1. My friend (a realtor) is very busy here in rural PA

She went from nothing going on in August, to people looking to buy now. I know it's just one person in one place, but it's good news :-).

[jefferson_dem]

2. But nobody has built me a new house yet...

So the economy still sucks.


:)

[Cha]

3. Thank you, Peacetrain..for real information.

[ClarkUSA]

4. Well, this fact should be a reality check for the Chicken Little crowd, after they're done unrec'ing

Good to hear that housing is recovering.

:kick:

K&R

[Clio the Leo]

5. kick! nt

[AngryAmish]

6. look up "fallacy of the second derivative"