New Home Construction Slows And Falls Short of Expectations Amid Shortages and Bidenflation

Written by on 11/18/2021

New Home Construction Slows And Falls Short of Expectations Amid Shortages and Bidenflation

Via Breitbart:

Homebuilders started construction on fewer new homes in October, defying expectations that rising real estate prices would amp up construction.

Housing starts, which measure the start of construction of a new home, fell to a seasonally adjusted annualized rate of 1.52 million last month, Census Bureau data showed Wednesday. September’s starts were revised down 1.53 million from the preliminary estimate of 1.55 million.

The October starts were 0.7 percent lower than September and only 0.4 percent above the year ago level.

Single-family starts, where the housing market has been the hottest, were even more sluggish. The rate fell to 1.039 million, a 3.9 percent contraction from the 1.081 million in September.

Builders may be slowing construction because of shortages of materials and labor. Although the extreme rise in lumber prices seen this spring and summer has retreated, prices of many building materials remain high and firms across the economy say hiring workers is difficult.

In a sign that builders remain optimistic about the housing market, permit applications for new construction jumped four percent to an annual rate of 1.65 million and single family permits rose 2.7 percent to 1.069 million. An index of homebuilder sentiment published Tuesday showed an unexpected improvement in confidence in October.


Our Readers And Listeners Keep Us In Print & On The Air!

Click here to subscribe to The CRUSADE Channel’s Founders Pass Member Service & Gain 24/7 Access to Our Premium, New Talk Radio Service. www.crusadechannel.com/go

What Is The Crusade Channel?

The CRUSADE Channel, The Last LIVE! Radio Station Standing begins our LIVE programming with our all original CRUSADE Channel News hosted by Ron Staffard. Coupled with Mike “The King Dude” Church entertaining you during your morning drive and Rick Barrett giving you the news of the day and the narrative that will follow during your lunch break and Kennedy Hall and The Kennedy Profession for your afternoon drive! 

We’ve interviewed hundreds of guests, seen Brother Andre Marie notch his 200th broadcast of Reconquest; The Mike Church Show over 1200 episodes; launched an original LIVE! News Service; written and produced 4 Feature Length original dramas including The Last Confession of Sherlock Holmes and set sail on the coolest radio product ever, the 5 Minute Mysteries series! 

Now that you have discovered The Crusade, get30 days for FREE of our premium News-Talk Radio service just head to:

https://crusadechannel.com/go 

Did you know about New Home Construction ? If you are interested in supporting small business, be sure to check out the official store of the Crusade Channel, the Founders Tradin Post! Not to mention our amazing collection of DVD’s, Cigars, T-Shirts, bumper stickers and other unique selection of items selected by Mike Church!


Reader's opinions

Leave a Reply


CRUSADE Channel Previews

CRUSADE Preview-Call 844-527-8723 To Subscribe

Current track

Title

Artist