The US has never fully recovered from the 1-unit housing boom that started in 1995 and exploded in 2007. The boom started with Clinton’s National Homeownership Strategy: Partners in the American Dream. It should have been called The American Scream!
Here are the August housing starts and permit numbers.
Here is a chart of 1-unit housing starts beginning in 1984. Note the surge starting in 1995.
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Multifamily? 5+ unit starts have been fairly consistent since 1984. With the exceptions of the 1991 and 2008 recessions.
Permits are down in August.
This painting by Edvard Munch fully captures the aftermath of a terribly misguided US housing policy.
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