Wednesday, May 20, 2009

Zero Would Be Good

Housing starts came in at a lower than expected number yesterday, fewer than 500k per year. The number was and is being viewed as bad by the media, and this is something I have discussed before.

Zero housing starts would be better than any positive number for the house price bottoming process, which is happening anyway. Bottoming home prices will be good for the consumer, which will be good for everyone.

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