Never mind a weak monthly print (1.52m actual, vs 1.579m expected) the broader run in housing starts trend seems to remain intact. The cycle of late 90’s-2006 remains the obvious visual outlier, fast forward to present there’s more people (so prior peak less relevant) and mortgage rates are lower.
Given that housing IS the economic cycle, we watch the housing starts indicator closely, for DAA / macro market timing purposes.
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