U.S. Housing Starts Rebound

[tekisui]

Source: Reuters

WASHINGTON (Reuters) - New U.S. housing starts unexpectedly rebounded in February, surging 22.2 percent, according to data on Tuesday that provided a rare dose of good news for the recession-hit economy and fractured housing market.

The Commerce Department said the jump in housing starts to a seasonally adjusted annual rate of 583,000 units was the biggest percentage rise since January 1990.

That was also the first increase since April last year, when they advanced by 1.6 percent. January's housing starts were revised to a rate of 477,000, the department said.

Analysts polled by Reuters had expected an annual rate of 450,000 units for February.

http://www.reuters.com/article/newsOne/idUSTRE52G2RK20090317

[SoCalDem]

1. Probably just some rich "builders" just got their share of the stimulus

and decided to finish the homes they stopped building a few months ago:)

[Le Taz Hot]

10. OMG! That picture!

I'm sure they were going to redecorate those window coverings anyway and felinus messus thought he/she would help with the demolition.

[marmar]

2. The start of the spring apartment/condo building season.....

.... Foreshadowing a futre with fewer people in single-family homes.

[Mari333]

3. please god no more mc mc mc mc mansions

keep it simple.

[marmar]

4. According to a Bloomberg story, it's due to condo/apartment projects.....

..... The McMansions era IZ DEAD!

[panader0]

5. I saw that on CNN this morning

Permits are up 3%. It's a start, and I sure could use some work.

[tekisui]

6. Let's get this ball rolling.

It is a start. We have a long way to go, and it may still get worse before it gets better, but hopefully we are starting to find the bottom of this mess.

[GeorgeGist]

7. Odd that the Dept. of Commerce hasn't found this news worthy of a press release.

http://www.commerce.gov/NewsRoom/index.htm

[tekisui]

8. We still don't have a commerce Sec'y yet do we?

This should be good news for them, wonder why no release?

[Rockholm]

9. And now come the anti-real estate comments.

More chatter from the rental class.

[originalpckelly]

11. Well, Ford built the Edsel, it doesn't mean anyone bought it.

The housing market is not recovering, because this is just HOUSING STARTS not average prices. When the prices start rising, then the market is recovering. If anything, it's incredibly irresponsible to build more homes when the prices are still falling in so many areas.

[tekisui]

12. Building homes employs workers.

I see it as a good thing, for now.

[karynnj]

13. No - this also is an important measure as it means

that contractors are confident enough to build.

Are you suggesting that homes should not be built in a city where there is demand because 3 states over there are still falling prices? Not to mention we don't have an economy where the government decides those decisions.

[BeFree]

14. Obama's Magic at work. Thanks, man.