AFTER FIVE YEARS THE RECOVERY IS WEAK

PRIVATE HOUSING CONSTRUCTION'S DISMAL PERFORMANCE

After five years into a recovery would you expect to see that Private Housing starts are only marginally higher than where they were at the bottom of previous major economic contractions? You would believe that the recovery starts would be well on the way back to previous highs. But this is not the case. Have a look...the chart of Private Housing starts goes back to January 1966 ...notice how the recovery since the low of 478 made in April 2009 has improved to 1117 in July 2014 but hardly any higher than the lows previously recorded.