Surprising real estate surprises
(itulip.com)
2008-05-16
The strength in housing construction in April came entirely from a huge increase in apartment construction, which can be extremely volatile from month to month. Building of apartments, defined as two or more units, jumped by 36 percent to a seasonally adjusted annual rate of 340,000 units.
AntiSpin: An increase in the number of permits to build apartments for renters is hardly surprising. Where are all the foreclosed-on former "home owners" going to live?