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QUOTE OF THE WEEK... "Drawing on my fine command of the English
language, I said nothing." --Robert Benchley, American humorist,
newspaper columnist, and film actor
INFO THAT HITS US WHERE WE LIVE... Some people felt there was really nothing to say after Housing Starts dropped 3.0% in August, to a 1.126 million annual rate. But, as usual, a deeper dive into the data gives us plenty to talk about. While it's obvious that home building took a summer break in August, it's been pretty active the last 12 months, with starts in that period up 14.9% for single-family units and up 16.6% overall. Some see that trend continuing at least through the end of 2016. They say that with population growth and tear downs, housing starts need to get to about 1.5 million units annually, so there's lots of recovery still to come.
We could get there sooner than some think, since new building permits went up 3.5% in August, climbing to a 1.170 million yearly rate. In fact, single-family permits are now at their highest level since January 2008. No wonder the National Association of Home Builders confidence index reached its best reading since October 2005. Before the Fed left rates unchanged on Thursday, Freddie Mac's chief economist said, "Even if the Fed decides to raise short-term interest rates, we don't expect a significant impact on the housing market." A good thought to remember whenever the Fed finally hikes rates. He added: "We're still on track for the best year of home sales since 2007."
BUSINESS TIP OF THE WEEK... The way to get new business with the least investment of time and money is to solicit past and present clients. You know how to reach them, they know your value and may have additional needs you can meet.
INFO THAT HITS US WHERE WE LIVE... Some people felt there was really nothing to say after Housing Starts dropped 3.0% in August, to a 1.126 million annual rate. But, as usual, a deeper dive into the data gives us plenty to talk about. While it's obvious that home building took a summer break in August, it's been pretty active the last 12 months, with starts in that period up 14.9% for single-family units and up 16.6% overall. Some see that trend continuing at least through the end of 2016. They say that with population growth and tear downs, housing starts need to get to about 1.5 million units annually, so there's lots of recovery still to come.
We could get there sooner than some think, since new building permits went up 3.5% in August, climbing to a 1.170 million yearly rate. In fact, single-family permits are now at their highest level since January 2008. No wonder the National Association of Home Builders confidence index reached its best reading since October 2005. Before the Fed left rates unchanged on Thursday, Freddie Mac's chief economist said, "Even if the Fed decides to raise short-term interest rates, we don't expect a significant impact on the housing market." A good thought to remember whenever the Fed finally hikes rates. He added: "We're still on track for the best year of home sales since 2007."
BUSINESS TIP OF THE WEEK... The way to get new business with the least investment of time and money is to solicit past and present clients. You know how to reach them, they know your value and may have additional needs you can meet.
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