Strong November Housing Report Negatives Recession, Supports Strengthening 2020
Summary
Housing permits made new expansion highs in November.
Housing starts came close as well.
Since interest rates lead housing, the growth can be expected to continue.
This potently negatives a recession now, and suggests a strengthening economy through 2020. Introduction
This morning's release of housing permits and starts shows that the housing rebound continues, and further, it can be expected to continue for at least another six months.
Important metrics made new expansion highs
Starts (blue in the graphs below) increased, both in total (first graph) and the less volatile single family starts (second graph), although neither set a new expansion record. The less volatile three month average (not shown) for starts overall is also just slightly below its expansion high set one month ago, while the three month average for one unit starts *did* make a new expansion high:
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https://seekingalpha.com/article/4312894-strong-november-housing-report-negatives-recession-supports-strengthening-2020-economy
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