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Privately Owned Housing Starts Up Slightly in January
Privately owned housing starts in January were up .8 percent from the December 2007 estimate, but still down 27.9 percent from last January, according to the U.S. Commerce Department. The U.S. Census Bureau and Department of Housing and Urban Development estimates that privately owned housing starts in January were at a seasonally adjusted annual rate of 1,012,000 units, compared with 1,004,000, units in December, and 1,403,000 in January 2007.Single-family housing starts in January were at a rate of 743,000 units, 5.2 percent below the December figure of 784,000
units.
Privately owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,048,000 units, which is 3.0 percent below the revised December rate of 1,080,000 million and 33.1 percent below the revised January 2007 estimate of 1,566,000.The Commerce Department also reports that privately owned housing completions in January were at a seasonally adjusted annual rate of 1,351,000a 1.8-percent increase from the December estimate of 1,327,000 and a 26.2-percent drop from the January 2007 rate of
1,830,000.
Associations Hope for Tax Credits to Revive Housing
Market
With the second half of 2008 quickly approaching, following a less than stellar start for the new housing industry, many are searching for jump-start solutions. The National Association of Home Builders (NAHB) believes a tax credit for home purchases may be part of the solution. The National Association of Realtors (NAR) expects improvements in the second half of 2008, if conventional loan limits are increased. Both organizations maintain that improvements could be had, if the right incentives are put in
place.
The biggest bang for the buck most likely would be provided by a temporary home buyer tax credit, says NAHBs chief economist David Seiders.
Seiders recently addressed the Senate Finance Committee with these matters. Tax credits for the purchase of a home are a means of eliminating excess inventory, relieving some of the pressure on falling housing prices and ending the waiting-on-the-sideline strategy some potential buyers have adopted
| VALUE
OF IMPORTS TO UNITED STATES |
|
Dec. 07 |
Nov. 07 |
% Change |
| Finished
Products (in units) |
| Plastic
windows and their frames |
5,477,437 |
7,341,617 |
-25.40% |
| Doors
and their frames, wood |
54,015,580 |
59,209,378 |
-8.80% |
| Aluminum
windows and their frames |
23,104,988 |
23,421,348 |
-1.40% |
Iron
windows or steel and their
frames, not stainless |
2,815,904 |
3,099,771 |
-9.20% |
Wood
windows, French
windows and frames |
14,413,964 |
18,863,299 |
23.6% |
| Materials
(in units) |
| Cast
and rolled glass |
9,633,376 |
8,795,865 |
9.50% |
| Float
glass |
9,533,895 |
12,831,266 |
-25.70% |
| Laminated
safety glass |
9,533,895 |
6,635,213 |
43.70% |
| Insulating
glass units |
12,045,278 |
16,912,550 |
-28.80% |
| Wood
and articles of wood |
1,219,260,690 |
1,393,272,804 |
-12.50% |
| Source:
U.S. Commerce Department |
| VALUE
OF EXPORTS TO UNITED STATES |
|
Dec.
07 |
Nov.
07 |
% Change |
| Finished
Products (in units) |
Plastic
windows, frames and
thresholds for doors |
7,336,321 |
8,095,726 |
-9.40% |
Wood
windows, French
windows and their frames |
5,452,525 |
7,765,462 |
-29.80% |
| Doors
and their frames, wood |
12,690,721 |
16,840,245 |
-24.60% |
| Materials
(in units) |
| Cast
and rolled glass |
34,654,654 |
35,920,210 |
-3.50%
|
| Float
glass |
42,568,311 |
52,640,638 |
-19.10%
|
| Laminated
safety glass |
7,143,299 |
6,891,559 |
3.70%
|
| Insulating
glass units |
5,513,303 |
7,648,532 |
-27.90% |
| Articles
of glass |
17,725,580 |
15,055,893 |
17.70% |
| Articles
of wood |
15,090,720 |
16,506,786 |
-10.60%
|
| Continuously
shaped wood |
22,298,480 |
23,103,179 |
-19.00% |
| Source:
U.S. Commerce Department |
DWM
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No reproduction of any type without expressed written permission.
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