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Housing starts rise in April

By Holden Lewis ·
Tuesday, May 18, 2010
Posted: 9 am ET

Housing starts were way up in April, to a seasonally adjusted annual rate of 672,000, according to the Census. That's a 41 percent increase over the pace of housing starts in April 2009. Building permits were issued at an annual rate of 606,000 units, an increase of about 16 percent over April 2009.

The increase in building permits conveys the implication that a housing recovery is really happening. At this time last year, housing permits were at their nadir, so a modest increase isn't something to get ecstatic about. Still, permits have been issued at an annual rate above 600,000 for eight of the last nine months. That's hard to ignore.

But keep in mind that, as recently as June 2008, permits were being issued at an annual rate of almost 1.2 million units. Now we're about half that level.

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1 Comment
May 18, 2010 at 11:29 am

Homes built for profit not people, Just Google "KB Home Sucks". 6 weeks to build 10 years to fix them. There is no LEMON Law in the US for new home construction. Expect another round of new home buyer tax credits, so convicted felons like KB Home's Bruce Karatz stock can go higher. Never heard of Karatz? That's because of his ties with the big bosses in the media. KB Home wants to lay low as they are trying to dump their Federal Consent Order. This was imposed on then by the FTC for shoddy practices and inferior building standards, not to mention the EPA fines for water pollution they are poisoning subdivisions with construction toxins water run off.