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Archive for the ‘Economy’ Category

We asked a sales manager whether he thought the pricing pressure from inventory being liquidated in the market was stabilizing or accelerating.

His response:

I don’t know nothin about nothin anymore

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Ouch, after last month’s promising data housing starts and permits have fallen again. I was starting to make myself believe that everything was on the way up (or had at least flattened out).

Housing Starts fell by 10.8% m/m to 510,000 in March 2009 after a 17.2% m/m gain in February 2009. Starts were down 48.4% y/y in March. Starts of single family units remained unchanged but multifamily starts component fell by 42.6% m/m in March after rising 69.7% in February. Building permits, which is an indicator of future construction fell 9% m/m and 45% y/y, signaling that starts might fall further in the future. Completions rose 3.5% m/m but were down 30.9% y/y

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