I really wonder who dresses these people. We have another unexpected announcement about the economy, this week it’s the housing sector. Again. Last week we had reports of new lows in the price of resale homes and they were shocked. This week it’s a new low in new housing starts. Actually, the news is really about both January and February, from the Wall St. Journal.
WASHINGTON (MarketWatch) — New construction of U.S. housing units plunged in February, erasing a sharp gain in January and coming close to an all-time-low level.