October Housing Starts, Permits, Foreclosures

Was it just last month that Greenspan and David Lereah at the National Association of Realtors were declaring a bottom in housing?

That myth was shattered on November 17th when the Census Bureau released the Residential Construction Report for October 2006.

Entire story can be read here.

Wall Street shrugs off the housing slump… why?

Because corrections are better than an unchecked
booms. Energy prices are down, consumer
spending and confidence is OK… The market is
climbing… Interest rates could be lowered soon
(rumor has power on the street)… steady as she goes.