The housing starts report this morning was above consensus, and there were upward revisions to the prior two months - a strong report.
On the home building home front talk of the community's structural labor undersupply has gone into an uneasy split limbo.
Every national housing economist is forecasting significant growth for 2016. In fact, Metrostudy’s Chief Economist, Brad Hunter, expects new housing starts YOY to rise 14.6%.
The decline in the MPI and the slight uptick in the MVI may be a reflection of the multifamily market slowly edging closer to its long-term equilibrium point post-recession.
I think more than a third of the companies in the construction industry are functionally bankrupt and looking for a way out.