Just got this in..... Housing starts: 699K Expected:670k Previous: 689k What this means to those of you who don't follow macro econ stuff is that money is flowing into construction. Housing stocks are the canary in the macro econ coalmine. The majors are up sharply. Come Novmember there will be a visible improvement to the masses by then. Game Over
Not at all, in 2006 housing stocks began coming off of their highs, and housing starts began to drop. All of this while the stock market continued to rise. Housing starts are up, we can still double dip, but the trajectory is up going into November.
I just want to get this straight.... Do you believe that money is "flowing" into construction right now?
What you should put on the record is that I saying that on 2/17/2012, RCG predicts that the economy will have a positive trajectory based on the housing numbers he just received. Bookmark this post and put it with the Obama is a lock posts, I will be asking you to reference them later
Im not denying that Obama will probably win, infact i specifically said that i thought he was 60/40 to win when he was still trading at 50/50..... but thats beside the point..... You made a specific point when you started this thread, which was directed at those of us who are not "macro economically" inclined, stating that money is flowing into construction.... Do you stand by that statement?
How bout you start here.... in October of 2008 at the height of insanity, when the world was falling apart, there was 767,000 housing starts. If you start from the beginning of 2008, and go alllll the way back to 1950 (which is as far back as i can find data), there was never a number as low as 699,000 housing starts. Stating that 699k housing starts is signalling a turn around in housing is assinine, and stating that money is "flowing" into construction based on that number is even dumber....... Its going to be 10 years before we clear out all the excess inventory, and big money begins to flow back into housing, and housing starts get back to normal levels. I bet you got this cheerleading shit off of MSNBC didnt you?