In the child’s fairy tale, in order to save their lives the tailor’s convinced the King they were weaving his clothes from Gold, of course they could not do that, yet none of the Kings advisors dare mention he had no clothes. When the king went out through the kingdom in his woven gold clothes that did not exist, it was a child that did have the blinded eyes of bending down to power, that he exclaimed “the king has no clothes”. So it with housing, the peak was in 2005 we are now in the eight year from the peak. Single family permits, starts and sales are between 67 to 69% below the peak and 42 to 49% below the fifty year average. Since I would take the child’s view, I believe the king has no clothes any industry that is running that far below the fifty year average is not recovering and has serious structural problems yet kings without clothes can proclaim that we are in Camelot and it never rains during the day. ……………………………………………………. Thoughts to ponder
Headline from CNN January 27th 2013
Housing to drive economic growth (finally!)
By Chris Isidore @CNNMoneyJanuary 27, 2013: 5:33 PM ET
| actual total for year | permit issued | start of construction | |||||
| multi | single | multi | single | single sales | |||
| 2012: | Year to Date | 813.4 | 514.4 | 780.0 | 535.5 | 367 | |
| 2011: | Year to Date | 624.1 | 418.5 | 608.8 | 430.6 | 306 | |
| year over year + or - | 30.33% | 22.92% | 28.12% | 24.36% | 19.93% |
| permits issued | permits issued total | |||||
| one unit structure | includes multi family | |||||
| permits issued | actual 12 month totals | 514.4 | 813.4 | |||
| peak year | 1682 | 2219 | ||||
| permits % drop from peak | 69% | 63% | ||||
| 50 year average | 911 | 1383 | ||||
| permits % drop from 50 year | 44% | 41% | ||||
| movement up from Bottom | 353 | 46% | 522 | 56% | ||
| housing started | starts total | |||||
| one unit structure | includes multi family | |||||
| starts | actual 12 month totals | 535.5 | 780 | |||
| peak year | 1611 | 2357 | ||||
| starts % drop from peak | 67% | 67% | ||||
| 50 year average | 1056 | 1481 | ||||
| starts % drop from 50 year | 49% | 47% | ||||
| movement up from Bottom | 360 | 49% | 520 | 50% | ||
| housing sales | ||||||
| one unit structure | ||||||
| new single family sales | 367 | |||||
| peak year July 2005 | 1283 | |||||
| sales % drop from peak | 71% | |||||
| 48 year average from 1963 | 628 | |||||
| sales % drop from 48 year average | 42% | |||||
| Bottom August 2010 | ||||||
| movement up from Bottom | 278 | 32% |
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