Despite Attempts To Downplay Economy … Housing Starts Rebound

J.J. Jackson | November 26, 2007 

Americans are falling for the same old tricks. They are believing that the country is filled to the brim with mythical “Joneses” are just one paycheck away from loosing their homes and being in soup lines. But they ignore the facts, probably to justify their own desires. What facts? Why, facts like this:

WASHINGTON (AP) — Construction of new homes and apartments rebounded in October by the largest amount in eight months but the unexpected increase was not viewed as a signal of a housing turnaround.

The Commerce Department reported Tuesday that housing construction rose by 3 percent in October, the first increase after three months of declines and the biggest advance since a 6 percent rise last February.

However, all of the strength came in the volatile apartment sector, which jumped by 44.4 percent. Construction of single-family homes fell for a seventh straight month, declining by 7.3 percent in October compared to September.

You’ve got to admire the mainstream media for attempting to throw a wet blanket over this news with their “yes but …” reporting. People are going to be in the market for what they can afford. After the subprime lending fiasco where people who could only afford appartments were being given loans for houses, it makes sense that some people have figured out that they should be in appartments and that those starts would increase.

Things go up … things go down. But if you think this economy sucks you are either willfully blind or one of the unelite few who haven’t figured out how to deal with your own problems and live your own life. Or you could just be a raving Marxist who isn’t happy unless you have government telling you what to do and when to do it and are just looking for an excuse to get just that.

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