U.S. builders built 700,00 homes, sold 300,000 2 Years, 5 Months ago
The lies in the U.S. housing market have reached utterly absurd levels. For the last two months, homebuilders have (supposedly) started construction on roughly 700,000 homes, but are only selling a little over 300,000 per month.
And yet (supposedly) inventories are unchanged.
Note that EVERY month for past FIVE YEARS, U.S. homebuilders' "new starts" have been at least 50% higher than sales - and often DOUBLE that figure, and yet there is NEVER any build-up in inventories.
As I've said before, there is only TWO ways this number can be reconciled: either HALF of all U.S. housing starts are complete fiction, OR most of these "housing starts" are actually PRISON CELLS in the private prisons springing up all over the U.S.
Prison cells are the ONLY "housing units" which builders can be paid for WITHOUT having to complete a sale...
"U.S. Housing Heals as Starts Near Three-Year High: Economy"
...Builders broke ground on 698,000 homes at an annual rate, in line with the median forecast of economists surveyed by Bloomberg News and down 1.1 percent from a January pace that was stronger than previously reported, Commerce Department figures showed today in Washington. Building permits, a proxy for future construction, climbed to the highest level since October 2008...
"Purchases of New Houses in U.S. Decrease for Second Month"
...Sales dropped 1.6 percent to a 313,000 annual pace, the slowest since October, from a 318,000 rate in January that was weaker than previously reported, figures from the Commerce Department showed today in Washington. The median estimate of 78 economists surveyed by Bloomberg News called for 325,000...
There were 150,000 new houses on the market at the end of February, matching the prior month’s record low. The supply of homes at the current sales rate climbed to 5.8 months’ worth from 5.7 months in January.
BullionBullsCanada.com is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.