Builders Work on Most U.S. Homes in Over 5 Years

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Dec. 18 (Bloomberg) -- The pace of home construction reached a more than five-year high in November as builders boosted inventory to keep pace with demand. Michael McKee reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

To start with.

If you own a house, probably pretty happy at that moment.

Here come the numbers with better than expected in housing starts.

1.0 9 million starts.

955 thousand is where economists had expected.

That is a growth of 23% month on month.

Also much better than expected, surpassing the million mark.

990,000 is where economists expected building permits to be.

It is a 3.1% fall from the prior month.

That is again less than what economists expected.

Take a look at how futures are trading right now.

We are building on some of those gains right now not by much.

Is that a pun building on billy numbers?

That happened.

Future sub 0.2%, so expect that will likely filter through until, of course, we get the fed meeting in the announcement.

That will be the big market mover.

What do you see in these numbers?

You see exactly what we were looking for, a drop-off in august.

You can see the month of august and september, housing starts fell and then they recovered big-time.

A huge percentage for the month of november.

It puts us over the one million mark.

We have only been over that one time previously this year since the 2008 recession began.

We look at the numbers.

Over one million, almost 1.1 million homes started in the month of november.

At an annual rate.

It tells you the housing market is beginning to recover.

Not only that, it was broadly based.

It was not just single-family homes.

Also multifamily.

Normally, we see them alternate going up and down.

Each of them up 20%, single- family homes up 21%. you have got strength in housing in november and that will put the thumb on the side of maybe beginning to taper on the fed today, maybe not decisive, but it makes the argument the economy is starting to pick up again.

Let me ask you is the fed likely to look at today's data and change their mind on what they said going into meetings?

No, they want to look at the emulation of data.

One of the things i wanted to do was stimulate the mortgage market with eyeing of mortgage bonds, keep the mortgage rates lower, and it did not work when they started talking about taper before.

They may want to hold off a little longer to make sure what they set out to do continues.

Thank you very much.

Interesting stuff.

12 days of christmas.

There are 12 days of bitcoin, thanks to matt miller's fine work.

You have been following the eighth -- the eight days.

I am not tired at all.

What is the latest in your

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