multi-family

Trying A Little Too Hard

By Jeffrey P. Snider|2014-01-17T17:06:52-05:00January 17th, 2014|Economy, Markets|

Joe Calhoun passed along the data for residential remodeling permits (according to the BuildFax Remodeling Index) for November 2013 (latest data available) and it was ugly. Total permits issued were 2,542,000 (seasonally-adjusted annual rate), 20% below October and 18% lower than November 2012. As usual, this "unexpected" decline, actually collapse, had a convenient though not-convincing excuse. "We saw a lower-than-expected [...]

We Waited Two Months For This?

Finally, after several months of delays, the Census Bureau has obtained enough survey information to publish the full picture of real estate construction. And it is historic. Coming on the day when mortgage applications drop to a fifteen year low, the data presented does not disappoint the buildup in suspense. First, though, the pace of the collapse in mortgages is [...]

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