The Rising Influence of Rising Affluence

[DewDiligence]

(PCL)—US housing starts at 8-year high:

http://www.wsj.com/articles/housing-starts-edge-up-0-2-1439901362

U.S. housing starts rose 0.2% from a month earlier to a seasonally adjusted annual rate of 1.21 million last month, the highest since October 2007, the Commerce Department said Tuesday. That is the third time in four months the figures reached a new high since the recession began.

Starts on single-family units, which exclude apartments and represent almost two-thirds of the market, jumped 12.8% to their highest level since December 2007.