Ho, ho, ho: Good news on housing starts, prices
From today’s USA Today, “The economy delivered good news on housing starts and wholesale prices Tuesday. Housing starts rose 5.3% in November as groundbreaking on both single-family and multifamily units climbed, the Commerce Department reported. In a second report, the Labor Department said wholesale prices fell a larger-than-expected 0.7% last month, biggest drop in 2-1/2 years, according to a report that showed prices well contained outside of the volatile food and energy areas.”
“November housing starts increased to a 2.123 million unit annual rate, faster than the 2.017 million unit annual rate expected by economists, who expected that rising mortgage rates would cool activity. October starts were revised up slightly, to a 2.017 million unit annual pace from the originally reported 2.014 million unit rate.”
