US 1-Unit Housing Starts Increase 6.47% In Febuary, Back To 1993 Levels (Despite 25% Increase In Population Since 1993)

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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.

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. 

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