Arrr! The makin' of new ship cabins be takin' a mighty dive, lower than e'er before since 2020!
2023-09-19
Arr, me hearties! There be grim tidings for the fine land of the United States. The construction of new homes hath plummeted in August, reaching depths not seen since the cursed year of 2020. 'Tis a clear sign of the treacherous waters the housing market be sailin' through. According to the latest reports from the Commerce Department, housing starts be fallin' by a mighty 11.3% last month. A measly 1.28 million units be built, a far cry from the grand expectations of them Refinitiv economists, who foolishly predicted a pace of 1.44 million units. But fear not, me hearties! There be a glimmer of hope on the horizon. Applications to build, which be a measure of future construction, did see a slight surge in August. Like a gust of wind fillin' our sails, they rose a respectable 6.9% over the month. So, let us buckle our swashes and hold onto our doubloons as we navigate the wild seas of the housing market, for there be challenges aplenty, but also a chance for fortunes to be made!
In a cruel twist of fate, the construction of new homes in the great land of the United States has taken a tremendous dive, plunging to its lowest point since the cursed year of 2020. Aye, the housing market be facing its fair share of hardships, me hearties!According to the latest tidings from the Commerce Department, housing starts befallen by a treacherous 11.3% in the bygone month, reaching a measly annual rate of a mere 1.28 million units. Alas, this dismal figure be a far cry from the optimistic predictions of those wise Refinitiv economists, who had hoped for a formidable pace of 1.44 million units.
But hold on, me buccaneers! The wind doth blow in a different direction. It seemeth that applications to construct new abodes have seen a modest increase in August, rising by a modest 6.9% throughout the month. A glimmer of hope amidst the tempestuous seas, perhaps?
So there ye have it, lads and lasses! The home construction industry be grappling with stormy waters as it struggles to find its bearings. But fear not, for with the surge in applications, there may yet be a light at the end of this treacherous tunnel. Let us raise our glasses to the brave souls who dare to venture into the realm of construction, and may their hammers strike true and their timbers stand strong!