According to the US Census Bureau, housing starts rose 2.96% in February.
However, 1-unit (detached) housing starts rose 6.47%, finally getting back to 1993 levels. However, the US population rose 25% from 1993 to 2015.
Liquidity moves markets!Click here to learn how you can follow the money.
Of course, there is also multifamily housing which fell -7.69% in February. But the general trend in multifamily starts has been higher in recent years than before the financial crisis and housing bubble.
Housing starts in the West rose 35.71% in February while other regions were down. Authorizations (permits) showed the same pattern except for the Midwest which rose 25.38% with all other regions declining.
After all, with the Cleveland Cavaliers as the reigning NBA champions and the Cleveland Indians making it to the World Series (before losing to the Chicago Cubs), it is not surprising that housing permits are up in Ohio.
Oh wait. I forgot about the Cleveland Browns that won only one game last year. Perhaps they should change their name to the Cleveland Gremlins.
Wall Street Examiner Disclaimer: The Wall Street Examiner reposts third party content with the permission of the publisher. I curate these posts on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases promotional consideration is paid on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler and no endorsement of the content so provided is either expressed or implied by our posting the content. The Wall Street Examiner makes no endorsement or recommendation regarding them. Do your own due diligence when considering the offerings of third party providers.