Pushing On A String: The Fed’s Spectacular Failure To Stimulate Housing

The “incoming data” was disappointing again this morning—–this time the culprit was housing starts which were off by 17% from January. But please don’t blame the “weather” again. The data below is for single family starts which are less volatile than apartment construction. At an annual rate of 593k units in February they were almost exactly flat with last […]
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