According to the US Census Bureau, US housing construction starts declined 5.6% on a year-over-year (YoY) basis for July. You can see the declining trend since 2012.
Liquidity moves markets!Follow the money. Find the profits!
Apartment (5+ unit) starts fell 22% YoY.
On a MoM basis, 1 unit starts declined only 0.47% in July while 5+ starts declined 17%.
1 unit starts (single family starts) have finally clawed their ways back to 1991 levels, despite the near zero Fed Funds target rate since late 2008.
You can see the slowdown in apartment construction starts (orange line) during 2017. Here is a closer look which shows the slowdown in apartment starts as The Fed merrily raises their target rate.
Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here 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. I may receive promotional consideration 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, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.