Housing Starts, Permits Both Unexpectedly Lower - Economy * US * News * Story - CNBC.com: "The Commerce Department said housing starts fell 12.8 percent to a seasonally adjusted annual rate of 458,000 units, the lowest on records dating back to January 1959, from March's upwardly revised 525,000 units."
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The folks who look at the stock market seem to be more optimistic than those of us who think more in terms of housing as the engine that drives the economy. I think there will be no turnaround in unemployment and consumer spending until the housing industry recovers.
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