US Housing Starts & Building Permits Plunge In September

US Housing Starts & Building Permits Plunge In September
US Housing Starts & Building Permits Plunge In September

原始链接: https://www.zerohedge.com/economics/us-housing-starts-building-permits-plunge-september-0

继 8 月份意外上涨之后，9 月份新屋开工率和建筑许可令人失望，下降幅度超出预期（环比分别为 -0.5% 和环比 -2.9%）...资料来源：彭博社在幕后，多户住宅许可暴跌 10.8% 环比（多户住宅开工量连续第二个月下降）。单户住宅开工量环比上涨 2.7%，许可证环比上涨 0.3%... 资料来源：彭博社降息预期似乎已经淡化了建筑市场的兴奋感...资料来源：彭博社房屋竣工量也有所下降（但美国劳工统计局认为建筑业就业岗位继续不断增加）...来源：彭博社所以，美联储降低了短期利率...抵押贷款利率上升...而建筑商放慢了他们的建筑计划...这不是人们想象的那样去工作！

After surprising top the upside in August, Housing Starts and Building Permits disappointed in September, declining more than expected (-0.5% MoM and -2.9% MoM respectively)...

Source: Bloomberg

Under the hood, multi-family permits plunged 10.8% MoM (and multi-family starts dropped for the second straight month). Single-family starts rose 2.7% MoM and permiots inchjed higher by 0.3% MoM...

Source: Bloomberg

Rate-cut expectations appear to have taken the excitement out of the building market...

Source: Bloomberg

Housing Completions also dropped (but the BLS thinks construction jobs continue to rise non-stop)...

Source: Bloomberg

So, The Fed cuts short-term rates... mortgage-rates rise... and builders slow their building plans... that's not how it's supposed to work!