Highlights of Annual 2012 Characteristics of New Housing

Of the 483,000 single-family homes completed in 2012:

• 432,000 had air-conditioning.
• 63,000 had two or fewer bedrooms and 198,000 had four bedrooms or more.
• 34,000 had one and one-half bathrooms or less, whereas 145,000 homes had three or more bathrooms.
• 142,000 had a full or partial basement, while 78,000 had a crawl space, and 263,000 had a slab or other type of foundation.
• 266,000 had two or more stories.
• 278,000 had a warm-air furnace and 183,000 had a heat pump as the primary heating system.
• 285,000 heating systems were powered by gas and 189,000 were powered by electricity.

The average single-family house completed was 2,505 square feet.

More Than 380,000 Nonemployer Businesses Added to the U.S. Economy

The number of businesses without paid employees in the U.S. rose 1.7 percent to 22.5 million in 2011, according to a new report released today from the U.S. Census Bureau. 

This marked the second straight increase in nonemployer businesses, with all but two states (Louisiana and New Hampshire) posting gains from 2010 to 2011.

Today’s findings come from Nonemployer Statistics: 2011, an annual report on U.S. businesses without paid employees, classified in nearly 450 industries for the nation, states, counties and metropolitan areas.

Nonemployer Statistics covers businesses with no paid employees, annual business receipts of $1,000 or more ($1 or more in the construction industries) and subject to federal income taxes.

Businesses with paid employees were covered in County Business Patterns, which was released in April.

16 Percent Increase in Federal Domestic Spending in 2009, Over $10,000 per Person

By Bob DeMarco
All American Investor

The U.S. Census Bureau announced today that obligations for federal domestic spending increased 16.0 percent in fiscal year 2009 to $3.2 trillion. The 2009 spending total is equivalent to $10,548 per person living in the United States.

New Orders Durable Goods (Chart)

New orders for Durable goods orders to rise from the March lows, however you can see they are still well below trend. This series will be important to watch in the last quarter of this year.

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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.

The Real Picture on Housing Starts--Chart

They say a picture is worth a thousand words. You can decide for yourself.

HOUSING STARTS

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 583,000. This is 22.2 percent (±13.8%) above the revised January estimate of 477,000, but is 47.3 percent (±5.3%) below the revised February 2008 rate of 1,107,000.

Single-family housing starts in February were at a rate of 357,000; this is 1.1 percent (±11.0%)* above the January figure of 353,000.

The February rate for units in buildings with five units or more was 212,000.

Source: ST. Louis Federal Reserve, Census Bureau

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Are the Housing Start Numbers Really a Surprise?

On the business channels, like CNBC, they are really talking up the surprise in the housing starts number. Are they really a surprise?

I wrote previously about how 80 percent of the housing crisis is contained in 35 counties. That is, 35 counties throughout the entire country. Much of the crisis is contained in a small number of geographic areas. Although, the unemployment situation is certainly becoming a factor nationally in he housing statistics. This would be especially true if you live in an area hit by major layoff.

The numbers reported today if looked at in the proper context are pitiful. The seasonally adjusted annual rate of 583,000 units is nothing to write home to "mama" about. This compares to the February 2008 rate of 1,107,000. Down 47 percent.

The more important building permits number rose 3 percent, to a seasonally adjusted annual rate of 547,000. This number does not indicate a surge in the housing market.

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Housing Starts Post Surprise Rebound, Up 22%

The number of new housing projects that builders broke ground on in February rose sharply, defying economists' forecasts for yet another drop in activity.

The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units.

February's pickup was led by a big increase in apartment construction.

By region, all parts of the country reported an increase in overall housing construction, except for the West, which led the housing boom and has been hard hit by the bust.

Overall housing construction activity fell to a pace of 477,000 units in January, according to revised figures. That was a little higher than first reported but still marked a record low.

Applications for building permits, considered a reliable sign of future activity, also rose in February by 3 percent to an annual rate of 547,000. Economists were expecting permits to fall to a pace of 500,000 units.

Even with February's rare burst of activity, housing construction is down a whopping 47.3 percent from a year ago.

The collapse of the once high-flying housing market has been devastating to the United States' economic health.

Its spreading fallout has contributed to big pullbacks by consumers and businesses alike, plunging the economy into a recession now in its second year.

The Obama administration has announced a $75 billion program to stem skyrocketing home foreclosures, which have dumped even more properties on an already crippled market.

More than 2 million American homeowners faced foreclosure proceedings last year, and that number could soar as high as 10 million in the coming years depending on the severity of the recession, according to a report last month by Credit Suisse.

Home mortgages are harder to come by because of the credit crisis and unemployment is at a quarter-century peak of 8.1 percent, factors that will make it difficult for the depressed housing market to snap back to full health.

Builders aren't optimistic that will happen any time soon.

The National Association of Home Builders' housing market index was flat in March at a reading of nine. That was one point above the all-time low reached in January. Readings lower than 50 indicate negative sentiment about the market. The index has been below 10 since November, reflecting the toughest market conditions in a generation.

Tighter lending standards for home mortgages, rising defaults and fear about the housing market's future have sidelined buyers, an absence felt acutely by homebuilders such as D.R. Horton , Pulte Homes and Centex .
Copyright 2009 Reuters. Click for restrictions.

URL: http://www.cnbc.com/id/29734541/

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.

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