Housing Starts and Permits Fall to Record Lows

From CNNMoney.com - "Housing permits, starts hit record lows":

Housing permits and starts fell to record lows in November, the government said Tuesday, in the latest sign that the housing market is continuing its decline.

Housing permits fell more than 15% to an annual rate of 616,000 last month, the Commerce Department said, while starts slid nearly 19% to an annual rate of 625,000.

Ugly but ....

"Arguably, these dismal numbers are what we need to see to get housing inventories back in line with the reduced level of demand out there," said Larson.

Again, as we written in previous posts, none of these numbers bode well for Real Estate related jobs of present. However, as Larson states at the end of the article, we want the housing start numbers to be low. Less homes, less inventory, equals less problems with the housing market.