PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


Economic Pulse: Housing Starts Decline

Thursday, January 21, 2010

Comment | More

New-home construction posted an unexpected 4% decline in December as harsh winter weather hit much of the country, the U.S. Commerce Department reported.

New-housing construction slipped to a seasonally adjusted annual rate of 557,000 units from an upwardly revised annual rate of 580,000 units in November, the Commerce Department said. Housing starts declined 19% in the Northeast and Midwest, and edged down 1% in the West. Housing starts posted a gain of more than 3% in the South.

Applications for new building permits, a gauge of future activity, rose 11% to an annual rate of 653,000, a stronger-than-expected increase and  the highest level since October 2008.

Wintry weather, particularly in the Northeast, was viewed as the main reason for decline in new-housing starts.

New-home construction is down 75% from the peak of nearly four years ago, but has rebounded 14% from the low point hit in January of 2009. For all of 2009, construction started on more than 550,000 homes, down nearly 40% from 2008 and the lowest on record dating back to 1959.

Meanwhile, the National Association of Home Builders reported continued weak expectations among builders. The association’s index of industry confidence fell in January to the lowest level since last summer.

Congress, in a move to give a boost to the sluggish housing market, voted in November to extend the deadline for a tax credit of up to $8,000 for first-time homebuyers until April, and expanded the credit to include $6,500 for existing homeowners who move.

   

Tagged categories: Construction; Economy; Housing

Comment Join the Conversation:

Sign in to our community to add your comments.

CS Unitec
Surface Prep & Material Removal

CS Unitec’s Floor Planers remove coatings & corrosion from concrete & metal surfaces. Produce keyed profiles for waterproofing applications. info@csunitec.com


LS Industries
LS Blasters: Optimum Steel Cleaning Efficiency

Simplify surface prep with the precise shot control of LS Blasters. Our blast technology delivers optimum coverage and finish. 800-533-8008


International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Absolute Equipment/Grand Rental Station
    Portable Power from Absolute Equipment

    •Compressors
    •Lighting Systems
    •Generators
    •Light Compaction
    Sales • Rental • Service
    Call 1-866-931-6655
    Over a century of
    providing excellence.


    Axxiom Manufacturing
    Revolutionary Units

    By integrating Schmidt's Aftercoolers with our blast pots, these systems remove moisture from air and minimize equipment footprint on jobsite.
    Call 1-800-231-2085


    Carboline Company
    Hyrdrocarbon Fire & Jet Fire Protection

    Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


    Spider, a Division of SafeWorks, LLC
    Spider Solutions Catalog

    The industry’s only 280-page catalog resource includes:
    • in-depth product info
    • 21 case studies
    • safety & inspection
      checklists
    • codes & regulations
    Click to request a copy!

  •  
     
     
    Technology Publishing

    The Technology Publishing Network

    The Journal of Protective Coatings & Linings (JPCL) PaintSquare
    Durability + Design Paint BidTracker JPCL Europe

     
    EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
    REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
    MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
     

    © Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
    2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com