FYI: Wednesday’s data on Housing Starts and Building Permits disappointed consensus expectations, and while some of the declines can be chalked up to the hurricanes in the South we would note that Starts in both the Northeast and Midwest regions also showed declines. One silver lining to this month’s data was that in both the cases of Housing Starts and Building Permits, the majority of the weakness was in multi-family units, which tend to be more volatile.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/housing-starts-and-the-economic-cycle-2/
