Housing Starts, Building Permits, and Consumer Prices Down (Video)
Author: Rob K. Blake | Date: November 19, 2008 | Filed In: Mortgage News
As expected housing starts, building permits, and consumer prices were reported down today signaling our worries about a recession turning into a depression are well founded.
Housing starts and building permits hit record lows in October according to the Commerce Department report released today.
Housing starts were down 4.5% to an annual rate of 791,000, setting a record as the lowest level in recorded history.
Building permits tumbled 12% to an annual rate of 708,000 building permits, setting a new record low as well.
The US CPI declined by 1% in October - the biggest drop of the CPI since the figure started being tracked back to 1947 - a drop much more than expected.
Here’s a quick Bloomberg video…reporting as the news broke earlier today.
Good Luck!
Author: Rob K. Blake
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