Yesterday’s housing starts number has pushed the mainstream press over the edge in declaring a housing recovery. I would argue that housing starts could maybe get over the low point of housing collapses of the last 50 years before we sound the all-clear, but it’s clear enough to me that, with Americans producing more people [...]

The big news in housing today is that residential construction jumped above expectations in September. Housing starts rose 15% month-to-month, and permits for new construction increased 11%. Year over year, starts are over 30% up, while permits are nearly 45% up. I think this shows as much as anything what a catastrophe housing has been [...]