Latest Breaking News
In reply to the discussion: A record 7 million Americans are 3 months behind on their car payments, a red flag for the economy [View all]Bengus81
(6,931 posts)"Starts for the volatile multi-family housing segment jumped 24.9 percent to a rate of 417 thousand. On the other hand, single-family homebuilding, which accounts for the largest share of the housing market, went down 4.6 percent to a rate of 824 thousand units, the third straight monthly fall and the the lowest level since May 2017. Starts increased in the South (15.1 percent to 687 thousand) and the Northeast (37.8 percent to 124 thousand) but fell in the West (-14.2 percent to 289 thousand) and the Midwest (-19.2 percent to 156 thousand). Starts for October were revised to 1,217 thousand from 1,228 thousand."
Simple,that's because the prices of new homes have risen so fast most can't afford one,so they start building apt complex's out the ass. I can verify that's EXACTLY what's happening where I live.
https://tradingeconomics.com/united-states/housing-starts