Housing Starts Crash to Pandemic Lows as Builders Hit the Brakes
Homebuilders just slammed into reverse—new construction craters to 2020 levels.
Why the cold feet? Materials, labor, or just Wall Street's favorite game of musical chairs with asset prices?
Meanwhile, realtors whisper the quiet part loud: 'Guess we're back to flipping NFTs instead of houses.'
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Housing Starts as a Leading Economic Indicator
Housing starts can be seen as a leading economic indicator given the large amount of investment needed to construct a house. In addition, they can provide insight into consumer confidence, as a buyer wouldn’t purchase a home unless they were financially stable and optimistic about the economy. As a result, the weak housing data could potentially be an early warning for investors.
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