Tuesday, July 27, 2010

Just how bad is the new home building bust?

Friend & colleague John Wake published this chart yesterday.  We all know it’s bad, but this chart makes the point very clear..

new housing starts

click here to read the original article at Wall Street Journal dot com.

To claim “The Great Recession – worst economic times since the Great Depression” a couple of years ago sounded like a bit of an embellishment to a lot of people; today I don’t think there’s any doubt.

Your cautious and advocating personal budgetary restraint Realtor,

Chris Butterworth