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Wednesday, October 17, 2012

Housing Starts Surge to Four-Year High

Posted by on Wed, Oct 17, 2012 at 11:59 AM

More bad economic news for Mitt Romney:

Housing starts increased 15 percent last month to a seasonally adjusted annual rate of 872,000 units, beating even the most optimistic forecasts on Wall Street, Commerce Department data showed on Wednesday.

It was the quickest pace of groundbreaking since July 2008, though data on starts is volatile and subject to substantial revisions.

America's economy has shown signs of faster growth in recent months as the jobless rate has fallen and retail sales data has pointed to stronger consumer spending.

Yikes. If the housing industry starts coming back, that's a huge bite out of unemployment right there.

Romney's electoral hopes have always been pinned to the economy, and no doubt a lot of Americans are still suffering. It remains to be seen whether this economic upturn comes just in time to save President Obama's bacon, or just too late.

 

Comments (7) RSS

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Queen of Sleaze 1
Ummm, the Obama administration obviously doctored these numbers to swing voters in their favor. Duh.
Posted by Queen of Sleaze on October 17, 2012 at 12:11 PM · Report this
internet_jen 2

Renters No More: Newbies Lured To Homeownership
http://www.npr.org/2012/10/16/162670568/…

Posted by internet_jen on October 17, 2012 at 12:13 PM · Report this
3
Just what we need. Another bubble dependent on the "RE" in FIRE.
Posted by hmmmmm on October 17, 2012 at 12:19 PM · Report this
Will in Seattle 4
Good thing the Seattle Times isn't reporting the state unemployment level dropped AGAIN this past month.

Oh.

Wait.

It is.
Posted by Will in Seattle http://www.facebook.com/WillSeattle on October 17, 2012 at 12:20 PM · Report this
5
Too late to matter.
Posted by Mister G on October 17, 2012 at 12:42 PM · Report this
6
this is GREAT!

there is time to build BILLIONS of houses and hire ZILLIONS of people before the election in two weeks.....
Posted by you are such a sad little man on October 17, 2012 at 1:30 PM · Report this
the idiot formerly known as kk 7
Not only too late to matter, but exactly what Romney is counting on. Romney wins, then reaps the benefits of what Obama was able to squeeze past the obstructionist Republicans in Congress.

Hell, Romney could be president for, say, eight months, the country could lose thousands of lives in a major terrorist attack, and the Republican president STILL wouldn't be held accountable.
Posted by the idiot formerly known as kk on October 17, 2012 at 11:56 PM · Report this

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