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This is the "real" reason behind today's fantastic housing news
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Tuesday, December 20, 2011
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From Zero Hedge:

Once again, the U.S. Department of Truth succeeds in fooling the algos. Today's November Housing Starts number was a blockbuster... at 685k annualized units, it came higher than the highest estimate (range was 600k-655k), and certainly higher than the average estimate of 635k. It was obviously higher than the downward revised previous number of 627k.

All great. Housing is soaring, employment must be back. Right? Wrong.

One peek under the covers shows where all the "growth" comes from - the entirety of the surge was due to...
 
Read full article...

More on housing:

This is how housing will finally recover

Five necessary steps for a real housing recovery

U.S. homebuilders are seeing a surge in potential buyers

Topics: Housing | Homebuilders | Real_Estate
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