If by “Surge” you mean “Hard Bounce”

20 Nov

Housing Starts “Surge”…

or a huge increase in rental units – because renting is the only option

FRED Graph

Last month, groundbreaking for single-family homes, the largest segment of the market, eased 0.2 percent to a 594,000-unit pace. Starts for multi-family homes surged 11.9 percent to a 300,000-unit rate, partly reflecting increased demand for rental apartments.

Building permits fell 2.7 percent to an 866,000-unit pace in October after jumping 11.1 percent the prior month, in line with expectations. The drop last month was concentrated in the multifamily segment and is likely to be short-lived.

CNBC, Federal Reserve

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