Skip to main content

Bad Housing Signs Bode Ill for 2011

John C. Weicher

December’s housing starts left a lump of coal in the housing industry’s stocking, rounding out a dismal year. The seasonally adjusted annual rate of 529,000 in December was the lowest rate of the year, down 8.2 percent from November; and the 2010 total of 587,000 starts was slightly better than 2009 (554,000) but lower than any other year since World War II.

An increase in apartment construction in December was more than offset by a drop of 14.2 percent in new homes, from a November rate of 458,000 to a December rate of 417,000—also the lowest of the year. Unfortunately, two very bad years in a row have not made a substantial dent in the overhang of unsold homes, which is not a good omen for 2011.

Related Articles

Hudson Institute Releases Study on the Worth of the Internet to the U.S. Economy

On September 8 at 12pm, Hudson Institute's Center for the Economics of the Internet will host a seminar launching a new report on the economic growth ...

Continue Reading

Cronyism, and the Ex-Im Bank

Irwin M. Stelzer

Free trade is a huge benefit if you are a Walmart shopper. All those microwave ovens, lamps, sneakers, and other stuff available for a relative pittan...

Continue Reading

A Reality Check Will Ground China's Sky-high Ambitions

John Lee

In 2008, the government set up the Commercial Aircraft Corporation of China to try to break into the commercial airplane market dominated by America...

Continue Reading