The Commerce Department reported Wednesday that housing starts reached an annual rate of 791,000 last month, the lowest level since the department began tracking starts in 1959. The rate tumbled 4.5% from the revised reading of 828,000 in September.
Note also the magnitude of the drop in the chart below— it is unprecedented, having easily surpassed the 1982 collapse, the present circumstances have now become slightly worse than the 1973-75 fall.
A grim report ….but nothing we didn’t already suspect. An unfortunate reality for the contruction industry. In the end, demand will determine the supply. As we recently learned, supply does not create its own demand. It’s an interesting path we’re on ….eh?
Listen on Sunday 2/21 as my guest John Sutter of ABS (Applied Building Science) explains the Sonoma County Energy Independence Program (SCEIP) and how it is creating jobs for the local construction industry, and how he has re-invented his own business to accomidate his interest in environmental issues, reducing his clients carbon footprint..and utility bill, as well as sustaining his business. It’s a perfect shift.
1034 Estes Drive. Priced at $279,900, this home is sure to go fast. Come on over and say Hi this Sunday. This classy remodeled home in Rincon Valley is sure to wow you. Bamboo floors and warm colors throughout, bright kitchen with stainless appliances. Large yard with no two story neighbors looming over. This home is a real charmer. Look for signs. ..Off of Montecito Ave just east of Middle Rincon, close to Santa Rosa, California’s desirable Rincon Valley schools. Hope to see you there!
How would you like to search for homes in your “Jammies” ?
Studies show that 87% of home buyers begin their home search on the internet. We often have buyers ask us for a website that offers accurate information. So, we were thrilled when Prospect Mortgage introduced their home search program.
The Home Buyers Scouting Report is a great tool, offerring you a secure, private site to search for property at your leisure…24/7. With Real-time access to all properties in the multiple listing service. Unlike some of the other home search websites available, with the HBSR your search results will be accurate and up-to-date.
You can fine tune and save your search, and create multiple searches. You can save properties that interest you, contact your Realtor or lender through the site….and seeing what your looking for helps us get a better feel of what your needs are.
When buying a home, communication and teamwork between, buyer, agent, and lender is essential. With HBSR, you get all this …wrapped in a neat package.