Contradictory economic news released today. Housing starts for April of 2010 (the number of privately owned new houses on which construction has been started) rose to an anuual rate of 672,000 last month (41% above April of 2009), the highest level since October of 2008. Good News!
At the same time, Building Permits (seen as a leading indicator for homebuilding), fell 12% to an annual run rate of 606,000. Not Good News...
At the same time, U.S. consumers are keeping up with their debt, as delinquency rates on mortgages, home equity loans and credit card bills fell for the third month in a row. Good News!
From this small corner of the economy, things are still trending upward, but all of the (bad) news coming in from Europe, combined with the recent stock market volatility, definetely makes things feel a bit shaaaaky...
