Housing starts resume march to 0

Last month housing starts unexpectedly rose from 477,000 (annualized) in January to 583,000. This morning March's data came in at 503,000 annualized.

Last month we were told not to get to excited by "one month's data." We can contain our enthusiasm now. The trendline to 0, apparent in the chart below (not updated with today's data) has resumed:

Industrial production, retail sales, and now housing starts for March have all been cause for concern. It's just possible that another compartment of the USS Titanic economy is about to be overtopped.

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blip on the screen then

I personally don't see how feeding the zombie banks plus refusing to deal with trade policy, wages is going to not prolong a recession.

I need to write an update on trade policy with Obama but from the reports I've read (sorry to say) it's like he is just continuing on with Bush's agenda.

Mexican trucks, such an example, are a huge issue with the Teamsters and rightly so. They want to enable Mexican truckers to be in the U.S. so the Mexicans would be paid Mexican wages, Mexican safety standards in direct competition with U.S. truckers. Never mind the obvious problems with smuggling, security.

Well, Congress finally passed an amendment to stop Mexican trucks and now Obama is going to try to reinstate the program.

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The only people I personally

The only people I personally know buying homes are what could be termed "vultcher investors," buying up property when they're in a depressed situation. Most of the homes purchased where either in foreclosure or abandoned. Wait...I take that back, I know one couple who are looking for a home to live in, but she just gave birth to 3 kids so they need something bigger than the condo they're in now.

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Housing Starts are only exacerbating the problem

Adding to the inventory.

The RE market is the foreclosure market. Of course if you read my favorite propaganda rag the SacBee everything is coming up roses.
No wonder they are going out of business

It has always been about class warfare.

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