NEWS ALERT
from The Wall Street Journal May 16, 2008
Home construction turned up unexpectedly in April and showed surprising vigor, making the biggest increase in two years, while building permits also rose, a sign of optimism for the sickly housing sector. Housing starts increased 8.2% to a seasonally adjusted 1.032 million annual rate, driven higher by a surge in apartment building construction, the Commerce Department said. Starts plunged by a revised 13.8% in March to 954,000. Economists expected April starts to drop by 1.4% to a 934,000-unit annual rate.
For more information, see: http://wsj.com?mod=djemalertNEWS
After the housing investment (over) run caused prices to readjust housing starts and sales have been doing well here, but why let good news affect the bad news being pushed.
