Housings starts plunge two months in a row
Posted by Matt Dioguardi on October 15th, 2007
Aside from the fact that this isn’t good, I’m not entirely sure what else it means, but …
Housing starts have fallen precipitously in the last couple of months. Stricter earthquake-proofing regulations and the economy are cited as factors. Here’s the graph from the Asahi:
The number on the right is the housing starts in the tens of thousands. And the number on the left is the percentage change from the previous year.
October 18th, 2007 at 12:11 am
This is an absolutely fascinating issue that is getting little attention. At this point, the slowdown in housing starts has caused Credit Suisse to downgrade its FY2008 GDP projections to 1.7%, which still might be too high. The new regulations really are not so strict. The problem we have is that the industry is so corrupt and so used to getting away with sloppy business practices that when someone holds it accountable things just fall apart…
Nova?