Housing starts up but permits plummet

Construction of new homes rebounded in October, increasing for the first time since June.
NOV 20, 2007
By  Bloomberg
Construction of new homes rebounded in October, increasing for the first time since June. But housing starts for October are down 16.4%, compared with the level of 1.47 million homes built in October 2006. Housing starts increased 3% to 1.229 million, after falling 11.4% in September to 1.193 million, according to a Department of Commerce report. The number of building permits issued in October fell 6.6%, marking the lowest level since 1.174 permits were issued in July 1993. The number of permits issued in September fell 4.6% to 1.261 million. Single-family housing starts in October fell to 884,000, which is 7.3% below the September figure of 954,000. The report comes one day after the preliminary National Association of Home Builders/Wells Fargo Housing Market index — a measure of home builders' confidence — stayed at the lowest reading since the index was first measured in January 1985 (InvestmentNews, Nov. 19) .

Latest News

Judge OKs more than $90 million in settlement money for GWG investors
Judge OKs more than $90 million in settlement money for GWG investors

Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.

Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs
Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs

Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.

Retirement uncertainty cuts across generations: Transamerica
Retirement uncertainty cuts across generations: Transamerica

National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.

Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future
Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future

While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.

Raymond James continues recruitment run with UBS, Morgan Stanley teams
Raymond James continues recruitment run with UBS, Morgan Stanley teams

A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave