As a logical result of yesterday’s news that the home building industry is confident, today’s headline shows that builders started building more houses last month — more than any time since October 2007. As this graph shows, however, we’re not near that bubble of 2006.
As this report from MarketWatch states, “The July housing report was not all rosy. Permits for new construction, a sign of future demand, fell 16.3%.” But most of that can be traced to the expiration of government incentives in New York.
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