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yes, ace....you did post in the past your opinion that population growth would dictate continued housing unit construction. Youlve presented evidence today that thete is a one month incresse in housing starts concentrated in multi unit construction and that single family home sales numbers, along with interest exhibited by potential buyers, plummeting into, for the single family home market, modern day depression levels. Now the decline proceeds in a way that destroys the core of middle class equity concentration, unlike the wealthy, the middle held the bulk of their personal wealth in their homes. A boom if one develops, in multi unit home building will do little to offset the decline in the willingness of consumers who felt 'house rich' when their principle asset was rising in value, year after year....to spur demand in the general economy. In addition, there is the ongoing process of former consumers losing first their credit ratings and then their homes. Add to this the reaction of tighter mortgage lending standards. We will see who the remaining robust creditworthy and enthusiastic consumers are who will do the buying in the volume needed to hold up the overall economy. I don't understand your emphasis, ace on the impact of multi unit construction. Itvwon't provide income for millions of realtors or for those who make and sell all of the materials, goods, and furnishings which robust sales of new and existing homes was providing. It will spur sales of some building materials and furnishings and appliances....keep a small portion of the building trades workforce employed. The big picture has not changed since i started the thread and we're probably in the spring, using a year of economic downturn, of the entire period of things getting worse before they get better in the single family home sector. In the broader economy, we may still only be in early march compared to where this downturn reverses.....
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