Today’s Housing Data is PLOPOO

by John Galt
May 16, 2012 16:30 ET

 

While the mainstream media engages in P.L.O.P.O.O. (Putting Lipstick on Pig of Obamanomics), the reality of today’s housing numbers are still so bad, they would even embarrass Lyndon Baines Johnson; hell, maybe even Harry Truman!

 

The Media’s PLOPOO updates look like this:

 

Rebound in Housing Starts

 

Housing market posts best stretch of growth in nearly four years

 

Housing starts, single-family building permits jump in April

 

Builders start construction on more homes in April

 

Based on just this small sampling of headlines, the only thing that has more lipstick than the pig is Obama’s ass.

 

Here are the charts, they speak for themselves:

 

(click on thumbnails to enlarge graphs)

APR 2012 PERMITS (ALL)

permits_1959_jgfls_apr12

APR 2012 SINGLE FAMILY PERMITS

permitssingfam_1959_jgfls_apr12

APR 2012 HOUSING STARTS

starts_1959_jgfls_apr12

APR 2012 HOUSING UNDER CONSTRUCTION

udnerconst_1969_jgfls_apr12

APR 2012 HOUSING COMPLETIONS

completions_1968_jgfls_apr12


To read the entire Census Bureau report, click on this link (PDF version)

 

 

 

 

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