Prior was 1.239mPrior starts were -12.4%Building permits 1.394m vs 1.410m expectedPrior permits 1.433m
US housing starts fell 2.6% and permits were lower by 2.7% as the pain in the US housing market continues. US 30-year mortgage rates are now about 7% so there’s no help coming but with the Fed showing that it’s serious about inflation, there might be some relief on the other side of the Iran war, if we ever get there.
This article was written by Adam Button at investinglive.com.