Here we see THE favorite means of fooling the sheep with "statistics": get them to focus on SHORT-TERM changes in a market - and make sure they never, ever, ever, ever see a long-term chart.



So in this instance we have the propaganda machine trying to hype a tiny up-tick in building permits - to cover up the TERRIBLE headline number on housing starts. Once again another U.S. statistic came in BELOW the lowest prediction.

So while the Liars in the U.S. media claim that U.S. home-builders are "getting more optimistic" over a tiny up-tick in building permits, here is what the REAL WORLD shows us:


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As you can see, U.S. building permits have now (barely) risen to the LOWEST LEVEL in the 50+ years that this statistic has been tabulated.

Would anyone but a LIAR refer to matching the WORST numbers in U.S. history as "increasing optimism"???


:laugh: :laugh: :laugh: :laugh:

P.S. Note how these Liars don't even TRY to avoid coming across as cheerleaders. The BAD NEWS of the headline is QUALIFIED by the positive TRIVIA the propagandists dug up. JOURNALISTS do not TAKE SIDES.

A journalist would have ONLY noted the falling number for housing starts in the headline, but then MENTIONED the building permits number in the text. The Liars (on the other hand) are being paid to send their "don't worry, be happy" message - so bad news is ALWAYS qualified/tempered (except on the occasions they can't find ANYTHING good to say).


"Home building slows, but March permits up
New construction could accelerate in months ahead"

http://www.marketwatch.com/story/home-building-slows-but-march-permits-surge-2012-04-17

WASHINGTON (MarketWatch) — U.S. builders started work on new homes in March at a sharply slower pace, but the number of construction permits jumped to their highest level in three-and-a-half years in a positive signal for the slump-ridden industry.

The Commerce Department reported that housing starts fell 5.8% to an annual rate of 654,000 last month, well below the MarketWatch forecast of economists projecting an increase to 703,000. The data are seasonally adjusted.

Housing starts in February were also revised down slightly, to 694,000 from 698,000.

Virtually the entire decline last month was in the building of multi-dwelling structures with five units or more, an often-volatile category.

Construction was flat on single-family homes, which account for about three quarters of the market for new housing.

Some economists say warm weather probably contributed to the decline in housing starts last month because it allowed builders to start new projects in January and February that they normally would have begun in spring.

“It appears that the payback from an unusually warm fall and winter came in March as record warm temperatures likely pulled new construction forward,” said Yelena Shulyatyeva of BNP Paribas.

Yet building permits — a gauge of future demand — climbed 4.5% to 747,000 in March from a revised 715,000 in February. The increase occurred entirely in the multi-dwelling segment.

The latest rise in permits suggests builders are becoming increasingly optimistic after the industry’s worst slump in modern times. Multi-dwelling permits jumped 24.2% to 262,000.

Conversely, permits for single-family homes dipped 3.5% to 462,000 — evidence that builders still face pressure from a deluge of foreclosed homes on the market. Many buyers are looking for deals on used homes instead of paying more for new properties.

Although the rise in permits is welcome, economists note, that does not always translate into new construction. Builders won’t start work if they thinks the economy is getting weaker. The latest batch of reports, including Tuesday’s industrial production data, appear to indicate U.S. growth might be softening a bit.
Building in South goes south

By region, new construction sank nearly 16% in the South, accounting for the entire drop last month. Housing starts shot up almost 33% in the North, edged up 1% in the Midwest and were unchanged in the West.

Over the past 12 months, housing starts are up 10.3%. New construction of single-family homes has risen a slightly faster 10.5% in that span.

Most economists expect the housing market to improve throughout the course of the year. The industry could even add to U.S. economic growth for the first time since the 2008-2009 recession.

Even at current construction rates, however, building is still well below the norm. In a healthy economy, housing starts should average 1.5 million or more each year, analysts estimate.

The effects of a healthy housing industry are widespread. Large amounts of raw materials and finished goods are required to build homes and furnish them after sale, and the construction trade employs millions of workers directly or indirectly.

Because of sharp fluctuations in housing starts data, economists say it can take several months to detect new trends. In the past three months, housing starts have averaged an annual rate of 687,000, up 18% from 582,000 for the same span in 2011.