Housing Starts Continue at Anemic Levels
Housing Starts Continue at Anemic Levels
Housing Starts Continue at Anemic Levels
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December 20 2010 (Shirley Allen)
home_under_construction
Housing starts continued to be at rock bottom lows based on the current housing report from the Commerce Department. Housing starts in November were 3.9 percent higher than October but 5.8 percent lower than a year ago.

Future housing starts may decline though as building permits, a sign of future construction activity, dropped 4.0 percent compared to October and are down a whopping 14.7 percent from November a year ago.

“The construction industry is limping along toward the end of a lousy year,” said Mike Larson, a housing industry analyst for Weiss Research.

High inventories of existing homes, including many repossessed properties coming onto the market at low, low prices, has played a significant role in the weakening of the market share that would normally go to the new construction.

That should only worsen with as many as 12 million mortgage borrowers in danger of losing their homes to foreclosure over the next two years. If even a fraction of those repossessions occur, it will flood the housing market and further lower demand for new homes.

The Commerce Department reported that the number of new private home starts rose in November to a seasonably adjusted annualized rate of 555,000, compared to a seasonably adjusted annualized rate of 534,000 in October and 589,000 in November of last year.

One glimmer of hope was a seven-month high in starts for single-family homes, which came in at 465,000, up 6.9% from October. However, there was a drastic fall in multi-family starts.

Tags: housing starts, building permits, construction industry, commerce department, new homes, existing homes, repossessed properties, new construction

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Learn About
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15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
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December 20 2010 (Shirley Allen)
home_under_construction
Housing starts continued to be at rock bottom lows based on the current housing report from the Commerce Department. Housing starts in November were 3.9 percent higher than October but 5.8 percent lower than a year ago.

Future housing starts may decline though as building permits, a sign of future construction activity, dropped 4.0 percent compared to October and are down a whopping 14.7 percent from November a year ago.

“The construction industry is limping along toward the end of a lousy year,” said Mike Larson, a housing industry analyst for Weiss Research.

High inventories of existing homes, including many repossessed properties coming onto the market at low, low prices, has played a significant role in the weakening of the market share that would normally go to the new construction.

That should only worsen with as many as 12 million mortgage borrowers in danger of losing their homes to foreclosure over the next two years. If even a fraction of those repossessions occur, it will flood the housing market and further lower demand for new homes.

The Commerce Department reported that the number of new private home starts rose in November to a seasonably adjusted annualized rate of 555,000, compared to a seasonably adjusted annualized rate of 534,000 in October and 589,000 in November of last year.

One glimmer of hope was a seven-month high in starts for single-family homes, which came in at 465,000, up 6.9% from October. However, there was a drastic fall in multi-family starts.

Tags: housing starts, building permits, construction industry, commerce department, new homes, existing homes, repossessed properties, new construction

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

December 20 2010 (Shirley Allen)
home_under_construction
Housing starts continued to be at rock bottom lows based on the current housing report from the Commerce Department. Housing starts in November were 3.9 percent higher than October but 5.8 percent lower than a year ago.

Future housing starts may decline though as building permits, a sign of future construction activity, dropped 4.0 percent compared to October and are down a whopping 14.7 percent from November a year ago.

“The construction industry is limping along toward the end of a lousy year,” said Mike Larson, a housing industry analyst for Weiss Research.

High inventories of existing homes, including many repossessed properties coming onto the market at low, low prices, has played a significant role in the weakening of the market share that would normally go to the new construction.

That should only worsen with as many as 12 million mortgage borrowers in danger of losing their homes to foreclosure over the next two years. If even a fraction of those repossessions occur, it will flood the housing market and further lower demand for new homes.

The Commerce Department reported that the number of new private home starts rose in November to a seasonably adjusted annualized rate of 555,000, compared to a seasonably adjusted annualized rate of 534,000 in October and 589,000 in November of last year.

One glimmer of hope was a seven-month high in starts for single-family homes, which came in at 465,000, up 6.9% from October. However, there was a drastic fall in multi-family starts.

Tags: housing starts, building permits, construction industry, commerce department, new homes, existing homes, repossessed properties, new construction

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.