The housing sector continues to revive, according to this morning’s update on housing starts and newly issued residential building permits. Residential construction increased 3.6% in October over the previous month, the Census Bureau advises. Last month’s permits total total slipped 2.7%, but that’s not a worry at this point because this metric, which offers a clue about future construction activity, is still advancing at a robust pace generally.
Daily Archives: November 20, 2012
Strategic Briefing | 11.20.12 | Housing & The Economy
Steady US housing recovery is boosting economy
Associated Press | Nov 19
The housing market’s recovery still has a long way to go. But for now, it’s helping prop up an economy that’s being squeezed by a global slowdown and looming spending cuts and tax increases. Joseph LaVorgna, an economist at Deutsche Bank, estimates that the housing recovery could boost U.S. economic growth by a full percentage point next year. That’s because a stronger housing market would mean more jobs, especially in industries like construction, and more consumer spending.