After April's disappointing dip in starts and permits, and following an unexpected drop in homebuilder optimism (blamed on surging lumber prices, and therefore Trump), May was expected to see a modest rebound - but it didn't work out that way.
It was a very mixed picture that paints an ugly scenario for what comes next...
Housing Starts surged a huge 5.0% MoM in May (smashing the 1.9% rebound expected) after a revised 3.1% drop in April.
Building Permits plunged a shocking 4.6% MoM (notably worse than the 1.0% decline expected) and dramatically worse than the revised 0.9% MoM drop in April.
Starts rose most since January as Permits puked most since Feb 2017...
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3 comments:
Homebuilder optimism....Hey builders, grow a set like your President! He was willing to set aside his business lifestyle to become President of the USA. President to try and fix this messed up society of ME ME ME I I I first. We are in this deplorable state because of lack of foresight, lack of sense and too much political correctness. Boy Mayor and Rickie on the shore come to mind!
What has happened to the business of good risk, great reward? Instead, its always the sky is falling and blame whoever is in the White House.
At least we do have a President in the White House who is NOT afraid to call it like it is! We need more of that and more good risk, great reward opportunities!!
I know I know, wake up from my dream....rather live in the dream than the BS that's going on today!
Although I had difficulty reading your comments 1234, I feel you pain. It is sad that it'll take many years to grow and prosper as a nation again.
At least Trump is at the helm and guiding us ALL in the right direction. Nay-sayers and all!!
No homebuilding going on in Maryland or any kind of development unless taxpayers paying for it.
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