US Housing Starts and Building Permits both declined in December (-1.4% MoM and -1.6% MoM respectively) with starts better than expected but forward-looking permits below expectations. This is the 3rd straight month of declines in permits and 4th straight drop in starts…
Source: Bloomberg
Total Starts and Permits hit new cycle lows, back to the 2020 COVID lockdown levels…
Source: Bloomberg
Single-family Building Permits tumbled for the 10th straight month (while multi-family starts rebounded notably in December). The pictyure was the opposite for Housing starts where single-family starts soared 11.3% MoM while multi-family starts plunged 18.9% MoM…
Source: Bloomberg
Yet Worcester Co property values skyrocketed. Zero consistency over time, always leaps bounds when trying to determine actual value. If it wasnt such a renvenue generator i might understand…….but. now values are dropping, interest rate is higher and supply costs starting to level out. In the end one might think its a total stall because of the interest rates.
No. Values coming down as well as supplies promotes building or buying. Interest rate blah. Its still better than history…..its just if those youngins with debt want to invest in real estate….real estate still a long term great investment. Key words. LONG TERM. Which youngins dont care about.