NewDealdemocrat — This is a Big Deal: housing permits and starts now a long leading negative

In the past it has taken a decline of -175,000+ in permits to be consistent with the onset of recession. Today was -132,000 under January’s high.

I have been expecting a slowdown, based on the jump in interest rates since the Presidential election last November. It has clearly arrived, and it is significant enough to tip my rating of the housing market as a long leading indicator all the way to negative, pending next week’s report on single family home sales, which becomes all the more important.

Another ominous sign that the now 96 month recovery is stalling.

Angry Bear
This is a Big Deal: housing permits and starts now a long leading negative
NewDealdemocrat