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Replies to post #814 on Inflation Nation
Pro-Life
06/19/16 3:02 PM
#815 RE: Pro-Life #814
Despite the apparent lack of supply, and the peak seasonality, Housing Starts were basically flat at 1164k (vs a revised 1167k in April) and Permits rose very modestly to 1138k (from 1130k in April). But while the headlines may be somewhat dull, under the covers the narrative of "rental-nation" continues with Starts and Permits for multi-family units rising notably as single-family stagnated. Once again Rentals - aka Multi-family units - saw permits increase by a large 6.7% (from an upwardly revised April) as single-family homes declined 2%... And a similar picture evolved in Starts with Rental units continuing to rise as single-family was flat... And this multi-family trend comes after a 13.4% surge in completions in May already.