This is a syndicated repost courtesy of Online Course Notes For Financial Markets and Banking. To view original, click here. Reposted with permission.
US housing starts in June crashed 12.3% MoM, the biggest June decline since 1959. And maybe before 1959.
Liquidity moves markets!Follow the money. Find the profits!
This does NOT help the limited housing inventory problem in the US that is helping to drive housing prices through the proverbial roof.
The largest decrease was in multifamily (5+ units) that declined 20% MoM. 1-unit detached “only” fell 9.11% MoM in June.
The decline was all over the nation, but with the Midwest suffering a 36% decline. I call this “The LeBron James Signing Effect.”
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