Housing Starts Drop 17.6 %

[Mary in KC]

Thats a huge drop - the worst in 14 years (per Reuters). I have been afraid this would happen. Housing has been holding this economy up for way too long. And now its crashing.

Average pay is going down due to lots of things (like higher and higher health care costs ) and the cost of the average house are something like 250,000. No one can afford that kind of monthly payment unless you are making way more than most people are.

I just got out of the industry after 25 years. I'm thinking of going into Credit Counseling instead. That's where the future jobs are.

[rsmith6621]

1. the worst in 14 years

"the worst in 14 years "

Wasnt Bush Sr in office then?????......interesting

[Mary in KC]

2. It's been a booming market for way too long.

Usually there are ups and downs. The downs make it possible for there to be ups. Its just the way the whole thing cycles. But this boom went on for about 14 years. A lot of people made a whole lot of money.

If housing goes down it affects all kinds of things - all the things that go into building new homes and furnishing them. This is not a good sign of things to come at all.

[paula777]

3. Is this a nationwide number or ?

I live in Los Angeles and the real estate market is still going up. Where did you get your numbers?