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Construction, Rates And The Misnomer That Is ‘Affordable’
Thank lower rates? Maybe. Probably. Sure.
New construction data released ahead of the Fed on Wednesday showed US housing starts rebounded sharply last month to post the largest gain since February.
The 9.6% MoM advance blew past consensus, which expected a more pedestrian 6% increase.
As the figure shows, the series is trying to stage a sustainable recovery after trundling to the worst levels since the plunge that accompanied the onset of the pandemic in 2020. Lower rates might help.
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