In conjunction with last Thursday’s post we want to bring attention to The Wall Street Journal’s recent post. More pessimism!
“RBC’s Robert Wetenhall forecast that housing starts throughout the U.S. in 2014 will hit 1 million, compared with 925,000 in 2013. Those figures are far below an average of 1.46 million starts per year over the half-century through 2013.
And the next two years only look a bit better, with starts hitting 1.05 million in 2015 and 1.1 million in 2016, RBC expects.
The housing market has disappointed many economists this year, with a weak first quarter dragging down forecasts for 2014 sales. And while it’s been five years since the recession ended, construction rates are still relatively low.”
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