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Tuesday, July 19, 2011
BREAKING NEWS: Housing Starts, Permits Rise In June
Housing starts jumped 14.6% in June from May to a 692,000-unit rate, surpassing economists' estimates of a 575,000-unit rate. Permits to build new homes rose 2.5% to a 624,000-unit rate, topping the 600,000-unit rate economists were expecting.From Fox News
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4 comments:
real estate is poised to drop 20% next year hold on for the ride.
A lot of those "Units" are section 8 apartments... so we'll all have a place to live after everything we own is devalued by the coming inflation...
Why anyone is building is beyond me since their is nobody to buy these homes. There are also so many homes sitting empty right now that need buyers. Yet, the banks aren't loaning to anyone who doesn't have perfect credit. We already have a ton of available housing, some of which is new and sitting empty, and very few buyers
Don't believe the headlines all we have hear is a bunch of real estate agents posting any story they can find to make you think the market is coming back so they can trick you into buying.
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