not understand supply and demand...
This chart shows U.S. not housing starts by unit sold.
VS
how long it took to sell that completed home.
What we are seeing is the burn off of excess inventory of new homes.
vs how long it took them to do it.
What that also shows U.S. is that while the FED's moves on interest rates + the Treasury buying FMae&FMac RE securities so they could re-lend home loans + the Buyer Tax Credit...
may have stopped the collapse.
It did not bring U.S. anywhere near back to normal levels.
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The Housing Collapse Intensifies
June 24, 2010
http://seekingalpha.com/article/211650-the-housing-collapse-intensifies?source=email
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