Renter Nation Returns? Multi-Family Building Permits Soared In November
Zerohedge - Dec 18th, 2024
The housing market presents a mixed outlook with a decline in Housing Starts for the third consecutive month, dropping by 1.8% month-over-month, contrary to the expected rise of 2.6%. However, Building Permits surged by 6.1% month-over-month, significantly exceeding the anticipated 1.0% increase. This growth in permits marks the largest monthly rise since February 2023 and raises the Permits SAAR to 1.505 million, the highest since February 2024. The increase in permits is driven by a 22.1% rise in multi-family units, while multi-family starts fell by 24.1%. Despite a previous similar pattern leading to unfavorable outcomes, homebuilders are optimistic about the rental market, even as expectations for rate cuts decline. The market remains anxious about potential hawkish rate adjustments expected later today.
RATING
The article provides a mixed view of the housing market, with accurate data from a credible source but lacks comprehensive balance and transparency.
RATING DETAILS
The article provides specific data on housing starts and building permits, and the figures are attributed to Bloomberg, a reputable source. However, it lacks additional context or verification from other sources.
The article presents a one-sided view focusing on the contrast between housing starts and building permits without exploring other perspectives or factors influencing these trends.
The article is clear in presenting its data, but the language could be more neutral and less speculative. Phrases like 'didn't end well last time' and 'optimistic pattern' introduce bias without explanation.
The article cites Bloomberg, which is a credible and authoritative source. However, it relies solely on this source without incorporating additional viewpoints or data from other reliable entities.
The article lacks transparency, as it does not disclose any potential conflicts of interest or affiliations that could affect its impartiality. It also doesn't explain the methodology behind the data presented.
