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News Link • Economy - Economics USA

Housing Recovery False Alarm - Starts, Permits Plunge In July As Rental Units Collapse


Following June's huge surprise jumps in Housing Starts (revised lower) and Building Permits (revised notably higher), July saw both starts and permits plunge (-4.8% and -4.1% respectively) dramatically missing expectations. The majority of the plunge is driven by multi-family starts crashing 35.2% YoY to its lowest since Sept 2016.

Permits' 7.4% June surge was revised up to a 9.2% spike (the biggest since Nov 2015) before July's plunge.

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Multi-Family Starts plunged to the lowest levels since September 2016...

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