new home construction still on the rise..
The December increase puts home construction at a seasonally adjusted annual rate of 1.7 million units, the Commerce Department reported Wednesday. In all of 2021, nearly 1.6 million housing units were started a 15.6% increase over 2020.
The December housing data was boosted by multi-unit projects where starts increased by 5%, offsetting a 2.3% decline in single-family starts. However, economists note that multi-family units make up significantly less of the market than
not sure if this is good or not?
Ok so here is my question...
on the face of this it looks like growth is an awesome thing.
and for the builder, the construction supplier, the transportation entity and all that support new construction these are good times.
but when the major growth is in the "multi unit housing" sector that tells me less people are building or buying their own homes and are now renting.
could the real estate tsunami caused from disastrous inflated prices and the banks that approved 100% loans on those upside down properties be heading for us?