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Tuesday, March 17, 2009

Good News With A Modifier

New housing construction was up in February. This was a surprise to most observers. The increase in construction occurred mostly in the Northeast.

Analysts do not see this as a sign of a recovery, they see it as a one time boost. There is no shortage of available housing especially in the West.

CNN Money: Housing starts unexpectedly surge
"This is a temporary rebound, not a recovery."

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