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Friday, March 25th 2011

8:08 AM

An Astounding Fact of New Home Sales. Way Slower Than 1963!

New home sales are twice as slow as in 1963, with almost twice as many people in America! This from a great Business Insider article speaking about this incredible data point.

Here is how it breaks down:

1963 population: 190M
Today: 310M

1963 new home sales: 560K
Current pace 2011: 250K
(Worst year ever was 2010 @ 323,000)

Read more: http://wallstcheatsheet.com/trading/heres-an-incredible-data-point-on-the-housing-market.html#ixzz1Hcm8XD46

This is bad for people in construction, really bad. But it shows that people aren't forming households at a rate needed to sustain housing in America.

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