The Scream! Multifamily Housing Starts Skyrocket 27.27%, 1-Unit Starts Meh At 1.86%

This is a syndicated repost courtesy of Confounded Interest . To view original, click here. Reposted with permission.

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!

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Here are the August housing starts and permit numbers.

rrescoms

Here is a chart of 1-unit housing starts beginning in 1984.  Note the surge starting in 1995.

1unitstarts

Multifamily? 5+ unit starts have been fairly consistent since 1984. With the exceptions of the 1991 and 2008 recessions.

5+unitstarts

Permits are down in August.

This painting by Edvard Munch fully captures the aftermath of a terribly misguided US housing policy.

thescream

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