US Housing Starts Fall More Than Expected Down 10.6%, Consensus Called for Rise of 2.7% (click for more)

U.S. housing starts and permits for future home construction fell in April as an overhang of homes on the market discourages builders from taking on new projects, pointing to prolonged weakness in the housing sector.

The Commerce Department said on Tuesday housing starts dropped 10.6 percent to a seasonally adjusted annual rate of 523,000 units. March’s starts were revised up to a 585,000-unit pace from the previously reported rate of 549,000 units.

Economists polled by Reuters had forecast housing starts rising to a 568,000-unit rate. Compared to April last year, residential construction was down 23.9 percent, the largest decline since October 2009.

I’d say somebody needs to talk about immigration again.

“Help me! I’ve fallen and I can’t get up!”

5 Responses to “UNEXPECTED!!! OOPS!!!!”

  1. JeffS says:

    “Darn! Why won’t the ‘expected’ actually happen?!?!?!?”

    — Comment that was muttered by President Obama on 17 May 2011.

    And if he didn’t say it, he should have.

  2. mojo says:

    Does the “Crooked House” rent rooms?

  3. aelfheld says:

    As has been pointed out by other and better observers than I, ‘unexpected’ is not the same as ‘unforeseen’.

  4. Mockingbird says:

    I think somebody needs both a judy chop and a ninjy chop!

  5. Yojimbo says:

    “Crooked House” does indeed rent rooms. It serves as a halfway house for people trying to go straight.

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