Up, down, up, down goes the stock market. The market is an instant pulse of the economy compared to housing reports that take time to flush out.
Home construction tumbles: Housing starts fell to a 17-year low in September, according to a government report released Friday before the market opened. Starts fell to a seasonally adjusted 817,000 in the month from 872,000 the previous month. Economists were expecting a smaller decline.
Applications for building permits, considered a good indicator of future activity, fell to a seasonally adjusted rate of 786,000 in September, down from a revised 857,000 in August. Economists were expecting a smaller decline.
Does anyone have access to or know how we find out about Portland housing starts and permit applications?