The Rising Influence of Rising Affluence

[DewDiligence]

(WY/PCL)—US housing starts reached 1.173M* in November, +10.5% YoY:

http://www.wsj.com/articles/u-s-housing-starts-surge-10-5-in-november-1450273007

In a key development, construction is picking up not just in apartments but in single-family homes, too. Starts in the latter category—reflecting two-thirds of the market—reached a nearly eight-year high in November.

Single-family homes use more lumber per unit than multi-family dwellings.

PCL forecasts 1.25M housing starts in 2016 (#msg-118004826).

*Seasonally-adjusted annualized rate.