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More Good News

By Judi Desiderio, Tuesday, September 21, 2010
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The US Commerce Department released a statement this morning that US Housing Starts increased 10.5% in August.

This is the highest level in 4 months to a seasonally adjusted annual rate of 598,000 units.

New permits for future homes also rose 1.8% to 569,000 in August.

While the rebound of the US Housing Market hit a bad patch after the abrupt expiration of the tax credit, clearly we are crawling back from the worst housing crisis since the Great Depression.

This good news, on the heels of yesterday’s NBER announcement that the recession ended last year, all help to lift the sentiment of the general public and corporations who have been waiting on the side lines for just this confirmation! Emotions are a big part of the recovery efforts. The pain, both financial and emotional, that this country experienced caused a deep wound that will take some time to heal completely.

With our sites firmly set on the future we will all emerge stronger and wiser from having experienced this.