By John Galt
August 17, 2011 – 13:15 ET
Unfortunately, I am not paid to blog, but I am working on it. With that established that is my excuse for not having these charts up yesterday as I shall now establish a series of pages under the economic data heading to keep my readers informed with or without an individual posting.
Here is the latest from the US Department of Commerce, Bureau of the Census regarding housing permits, starts, under construction, and completions. Needless to say we are still in a massive economic depression in the construction industry and the song in the video below is dedicated to this fact.
July 2011 Permits (ALL):
(Click to enlarge/reduce all charts)
The thin blue line illustrates that we should continue to party like its 1961, er, a disaster.
July 2011 Single Family Housing Permits:
And the thin blue line above tells you that the construction of single family homes can indeed “double dip” into oblivion. Or at least into a bad “Happy Days’ episode.
July 2011 Housing Starts:
Welcome to another summer of “recovery” uh, cough, choke, ahem….
July 2011 Housing Under Construction:
Uh, well, never mind. I don’t want the “doomer” tag…..
July 2001 Housing Completions:
THAT’S WHAT AMERICA NEEDS! MORE HOUSES ON THE MARKET!
In summary the truth is the only part of the market that is improving is the multi-family aspect, which is a positive as that keeps the idiot developers from putting more idiotic over-priced subdivisions on to an over saturated market.
Unfortunately for the millions of the unemployed construction workers and the millions more unemployed illegal alien construction workers, this depression marches on.