« USD May Weaken Today, Wed., March 16, 2005, 7:00 AM | Main | GICS Tables & Stock Lists, Wed., March 16, 2005, 1:22 PM »
March 16, 2005
U.S. Housing, Wed., March 16, 2005, 7:10 AM
The February numbers for U.S. housing starts and building permits will be released at 8:30 AM, and the news will not be positive for portfolios over-weighted in the mortgage lenders and home builders.
I anticipate a drop of 7.4 percent in housing starts and a drop of 3.4 pct in building permits.
Furthermore, my crystal ball says that Kudlow will spin this in a different direction. I am coming to the conclusion that Kudlow deems himself the economic alchemist of all time, turning one negative after another into a positive.
But January's housing starts of 2,179,000 just may drop to 2,000,000 or slightly below today, and building permits of 2,132,000 for January may drop to (pick a number) 2,060,000.
All I know is that they are not rising.
Have a good day.
p.s., 2.2 million actually, so what do I know?
Posted by Posted by Bill Cara on March 16, 2005 07:08:20 AM | Category: Economics