A ray of hope
Housing starts unexpectedly jumped 22% in February
According to CNN, housing starts jump 22% in February, an unexpected surge. Housing starts were up everywhere in the country in fact, except for the west coast. That’s what happens when you get California dreams and build more houses than people. Building permits were also up 3%, another good sign.
Does this mean we are out of the woods yet? No, but we need every step in the right direction we can get. We’ll see if the trend continues in March.
Stocks are also trying to rally again, another good sign. The surge had been strong for several days, until yesterday, when the rally lost some of its fizzle. Things seem to be moving in the right direction again (up!), with finance and technology leading the pack. Hey, in this recession, we can only measure success 1 day at a time.
