Housing Starts Plunge Year over Year

HOUSING STARTS

• Privately-owned housing starts in April were at a seasonally adjusted annual rate of 458,000. 
• This is 12.8 percent below the revised March estimate of 525,000 and is 54.2 percent below the revised April 2008 rate of 1,001,000.

Single-family housing starts in April were at a rate of 368,000; this is 2.8 percent above the revised March figure of 358,000.

The April rate for units in buildings with five units or more was 78,000.

This is the lowest number on record. And, obviously a new low for the down move in housing starts.

Source Census Bureau

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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.