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PMIs still falling but New Orders/Construction spending keep rising. Outside of Commercial, construction spending is crazy right now... manufacturing spending now over 100% YoY.
Infrastructure Bill provides...
I saw this chart being talked about on the Internets last week:It's still way, way, WAAAAAAAYYYY below what it needs to be.
This graph is seasonally adjusted. What's it's not adjusted for is population. Even with the uptick in the last few years, we're still building housing at around the same rate that we were when the population of the US was like half of what it is today. We're not even building enough to keep up with population growth, let alone enough to fill the void left by a fifteen year downturn in housing construction.
It's still way, way, WAAAAAAAYYYY below what it needs to be.
This graph is seasonally adjusted. What's it's not adjusted for is population. Even with the uptick in the last few years, we're still building housing at around the same rate that we were when the population of the US was like half of what it is today. We're not even building enough to keep up with population growth, let alone enough to fill the void left by a fifteen year downturn in housing construction.
So non privately owned housing getting it back to even?I saw this chart being talked about on the Internets last week:
I'm not sure what you mean, Jim...
New apartment buildings.
Your chart shows housing output at steady but @Toe Chart showed a lot more volatility. His says privately owned housing units though.
Well, if he's talking about apartments, those are gonna be reported on privately owned too...and yeah, they haven't kept up either.
What all is included in non privately owned housing?Well, if he's talking about apartments, those are gonna be reported on privately owned too...and yeah, they haven't kept up either.
Because my chart is a continuous index?
Like public housing through HUD? Think that's like less than a percent of total homes...that has certainly not been growing much at all...
Either way there’s a huge inventory problem - especially on the East Coast and South.
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