The government and MSM reported a surge in housing starts in December. That’s funny, since they actually declined when you look at the actual UNMANIPULATED numbers. Here is a link so you can see for yourself:
http://www.census.gov/construction/nrc/pdf/newresconst.pdf
The actual number of housing starts in November was 66,500. The actual number in December was 64,200. The best part is that only 36,400 of these were actually single family homes, down 9% from November. With all the devastation from Sandy, shouldn’t there have been a boost in housing starts?
This chart tells the story. Look at last December. The adjusted and unadjusted numbers were identical. For the last four months the government manipulated numbers are far greater than the actual numbers. Don’t trust anything reported by the government or MSM. It’s nothing but lies and propaganda.
Housing starts jump in December
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — Construction on new U.S. homes jumped in December to the highest rate in more than four years, with gains across the country, as well as in single-family homes and buildings, the U.S. Department of Commerce reported Thursday.
In the freshest data signaling a strengthening housing market, starts rose 12.1% in December to a seasonally adjusted annual rate of 954,000 — the highest level since June 2008.
On Thursday, the government revised November’s rate to 851,000
Administrator says:
MONSTER HEADLINE ON MARKETWATCH
U.S. housing starts leap to a 4-year high in December
Like or Dislike:
4 
0
17th January 2013 at 9:42 am
ThePessimisticChemist says:
I close on my house tonight Admin….
I’ve been told I was a fool by a few on the board, so here are some numbers.
2006 Home Appraisal: $115k
Asking price: $72,000
We paid: $67,000
Putting 20% down, so total mortgage is for $53,600.
Our total income is currently $110k per year. I’m due a minimum 10k raise in April, and will probably be able to get more.
No car payment. $10k total on credit cards, and $100k for all 4 of our degrees (by the time she finishes her masters it will be 100k total).
Our priority for paying things off:
1) Pay off credit cards. We’ve been holding off on this through the home buying process. It will feel good to have that money back as income.
2) Buy a decent 2nd vehicle. One vehicle doesn’t cut it anymore.
3) Pay off car.
4) Pay off house.
5) Pay off student loans.
Now if only the fucking government would get their hand out of my back pocket. Its difficult to start a life while the neighbors down the block keep voting themselves half of my fucking pay check.
Well-loved. Like or Dislike:
11 
0
17th January 2013 at 9:43 am
Administrator says:
TPC
At today’s mortgage rates, your mortgage payment will be less than someone in West Philly is paying to Ally Financial for their Cadillac Escalade.
Sounds like a great investment and a good plan.
Well-loved. Like or Dislike:
8 
0
17th January 2013 at 9:51 am
Eddie says:
Great move, TPC. It would be really hard to get in trouble with a deal like that one.
Like or Dislike:
4 
0
17th January 2013 at 11:12 am
Jimi d says:
Housing starts have not “JUMPED” up. All (repeat ALL) of my friends in the contruction business are STRUGGLING to get by. And they have been since late 2007.
Like or Dislike:
4 
0
17th January 2013 at 11:12 am
Eddie says:
Housing here is still in a bubble. I’ve been window shopping for the right house, but the great ones are snapped up instantly, often for cash, and I don’t like fixer-uppers. Lots of them are selling though, and at the moment, the flippers (curse their dark hearts) are making money.
Like or Dislike:
1 
0
17th January 2013 at 11:21 am
card802 says:
Blah Blah Blah, Housing starts are up, banks are doing great, unemployment is down.
Makes me sick, how many billions in taxpayer dollars went directly to, or through GS?
“Goldman Sachs Group Inc. (GS) will pay its employees an average of $399,506 for 2012, up 9% from a year ago as the securities firm’s revenue climbed 19% and it reduced its headcount by 900 employees last year.
The firm, known for rewarding its bankers and traders with the highest payouts on Wall Street, set aside $12.9 billion for compensation and benefits for 2012, up 6% from $12.2 billion, a year earlier. Compensation expenses include salaries, bonuses and the vesting of previously granted stock awards. For 2011, Goldman employees earned an average of $367,057.”
Like or Dislike:
2 
0
17th January 2013 at 11:33 am
BamBam says:
Can someone explain to me what exactly seasonally adjusted means? It seems to be one of those vague definitionless words that anyone uses because no one has any idea what it means so that someone fools everyone.
Like or Dislike:
2 
0
17th January 2013 at 11:39 am
Administrator says:
BamBam
Seasonal adjustments are supposed to smooth out the data because there are higher housing starts in the summer because the weather is better and employers do heavy hiring before the holidays and then layoff part time workers after the holidays.
The graph reveals that the government is either incompetent or purposely manipulating the numbers because you would expect last December to have a similar discrepancy and there was none.
Like or Dislike:
2 
0
17th January 2013 at 11:53 am
ThePessimisticChemist says:
@Eddie – Ours needs a little work, but it will probably only come out to a few thousand dollars total for the minor issues.
It came with a brand new fridge, stove, and dishwasher, and 2/3 the the windows are brand spanking new.
New roof as of 2007.
A house flipper bought it, got into financial trouble while flipping it, and eventually ended up getting foreclosed on. We got lucky, right place, right time.
Like or Dislike:
4 
0
17th January 2013 at 11:55 am
Unsettled Worker says:
Well, it does not surprise me. I think it is more probable to imagine people affected by Catrina to be living in the remains of the building than the “construction bussiness” increasing by some fantastic numbers. But you can come to live to Canada, especially to Toronto and Vancouver. There are plenty of new condos all around and people stopped buying them (as zou can see in thisinfographic about the current situation in Vancouver). Or maybe its time to move to another continent?
Like or Dislike:
3 
0
17th January 2013 at 12:29 pm
Administrator says:
Looks like the Vancouver housing bubble is bursting.
Like or Dislike:
0 
0
17th January 2013 at 12:39 pm
Eddie says:
Imho, the Vancouver market has a floor under it. It’s one of those places, like San Francisco or NYC, where prices will never be cheap. I hate condos though. They arte seldom ever a decent investment.
Like or Dislike:
1 
0
17th January 2013 at 12:44 pm
tom says:
No one has $$ anymore. People are tapping their 401Ks/IRA’s to pay bills…Things are so bad that new ATMs that dispense $1 and $5 bills are coming out
http://money.cnn.com/2013/01/17/pf/atm-bills/index.html?iid=HP_LN
Like or Dislike:
3 
0
17th January 2013 at 1:07 pm
Stucky says:
Well-loved. Like or Dislike:
10 
0
17th January 2013 at 1:38 pm
card802 says:
40c a gallon in face value 90% silver?
A 90% silver quarter is worth about $5.75, so 40c is around $11.00 paid for a gallon going for about $3.30.
Sweet. Bet people will fall for it.
Like or Dislike:
3 
0
17th January 2013 at 3:41 pm
card802 says:
Dang, $9.85 in silver, not $11.00
Still a sweet deal.
Like or Dislike:
1 
0
17th January 2013 at 3:44 pm
Bruce says:
DaveL
Whenever you see the word “Adjusted” used by the government it means the same thing as the word “Lie”. Though when comes to taxes Adjusted means More or Increase. Also it can be used to report certain things where it means “We fucked it up so bad we have to make it look better”. Banks and Big Corporations do the same thing every day. If reality is bad you “Adjust it”.
Like or Dislike:
3 
0
17th January 2013 at 4:56 pm