June 20, 2006

200 MILLION MORE AMERICANS GOTTA LIVE SOMEWHERE:

Housing construction posts increase in May (MARTIN CRUTSINGER, 6/20/06, Associated Press)

Construction of new homes and apartments, after posting three straight months of declines, increased in May, helped by dry weather.

The Commerce Department reported that builders started construction at a seasonally adjusted annual rate of 1.957 million units last month, an increase of 5 percent from the April construction pace. The better-than-expected increase came after declines of 5.5 percent in April, 7.5 percent in March and 5.9 percent in February.

Posted by Orrin Judd at June 20, 2006 11:11 AM
Comments

OJ, do you remember back in 2003 when people had these running arguments about the "payroll survey" and the "household survey" when it comes to measuring employment? Meaning, which one was more accurate.

I feel another similar argument coming WRT measuring sales of existing homes and "new home starts."

Posted by: Brad S at June 20, 2006 11:50 AM

This seems hardly credible, almost two million new units in one month!

Posted by: erp at June 20, 2006 2:31 PM

No, erp, the construction industry is ON PACE to build about 2M units in one YEAR.

Posted by: Brad S at June 20, 2006 2:42 PM

Thanks. Even that seems like a lot.

Posted by: erp at June 20, 2006 8:52 PM

Oh oh, I know where 200 million new Americans can live... it's a wide open place with beautiful beaches and gorgeous weather and it's not far away, in fact it's just south of here... some call it Mexico.. and it can be the 51st state just as soon as they petition to enter the union just like every other state did.

Posted by: lebeaux at June 21, 2006 12:33 AM
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