Behind the Numbers: Housing continues to hobble along

September's housing market was reminiscent of the gambler who was asked how he did at the track. He said, “I broke even, and boy, did I need it!”

Housing starts were almost perfectly flat — up 0.3 percent from August, a total of 2,000 units — but apparently that was enough for many commentators, who sounded relieved that at least starts didn't go down. Building permits for future construction did go down, however, by 5.6 percent, suggesting that housing starts in the next couple of months may drop again as well.

September new home production was up slightly and new apartment production was down slightly, but neither change was large enough to be statistically significant.

John C. Weicher is director for of the Center for Housing and Financial Markets at the Hudson Institute and is former assistant secretary for housing at the U.S. Department of Housing and Urban Development.

John C. WeicherNEPOp Edsop-edOpinion

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Fishermen, port struggling to recover from Pier 45 fire

Loss to fishing industry alone could be in the millions

Newsom says rules for reopening California fitness centers coming ‘in a week or so’

By Phil Willon Los Angeles Times Gov. Gavin Newsom on Wednesday said… Continue reading

Larry Kramer, ‘Normal Heart’ playwright and AIDS activist, dies at 84

By David Colker Los Angeles Times A frail man stood outside the… Continue reading

Texts show Mayor Breed ordering police chief to ‘clear’ out homeless

Newly released text messages are offering the public a behind-the-scenes glimpse of… Continue reading

Most Read