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The US housing collapse, in technicolor

Just a simple chart here, from Sempra Metals‘ prolific John Kemp.

New home sales shrank again in January to a seasonally adjusted rate of just 604,000, running at less than half their July 2005 peak. Starts also continue to fall as builders respond to a slumping market.
The worst is not yet over.  Housebuilding rates will continue to fall throughout much — perhaps all — of 2008.  There will be no recovery before 2009 at the earliest.   

770.jpg

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Comments

  1. Jan 29   23:11 Posted by Anonymous [report]

    http://globaleconomicanalysis.blogspot.com/2008/01/bank-reserves-go-negative.html

    anyone read this by Mish? He says it’s unprecedented. Would be interested to hear what FT journos think of this.

  2. Jan 29   15:40 Posted by Toto [report]

    “Le trader a laissé entendre que la direction de la banque connaissait et récompensait ses positions prises de manière illicite, avec dépassements d’engagements, absence de couverture du risque et faux documents maquillant l’ensemble. Ils étaient créditeurs au 31 décembre 2007 de 1,4 milliards d’euros, a dit lundi le procureur.”

    http://lemonde.fr

  3. Jan 29   15:33 Posted by Toto [report]

    According to Le Monde, Jérôme Kerviel let investigators guess that his superiors were aware of his positions.

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