One more time. Let’s just gawk at the crazy acceleration of housing starts this month.
Remember, this is the annualized pace of new homes being built. We were once told a story about how there were so many empty homes, we wouldn’t need to build new ones for years. Now people are talking about this accelerating to a pace where new home construction and attendant businesses could add one whole percentage point per quarter to GDP.
What’s crazy is that this was due to be a down month due to Hurricane Sandy.
And for an even more ridiculous look, here’s the year-over-year change in starts. It’s just shooting off like a rocket.
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