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Worst 2 Years For Housing Since 1959

From a discreet Associated Press:

2010 ends as 2nd worst year for home construction

By MARTIN CRUTSINGER
January 19, 2011

WASHINGTON — Builders began work last year on the second fewest number of homes in more than half a century, as the weak economy kept people from buying houses.

Builders broke ground on a total of 587,600 homes in 2010, just barely better than the 554,000 started in 2009. Those are the two worst years on records dating back to 1959.

And the pace is getting worse. The Commerce Department says builders started work at a seasonally adjusted annual rate of 529,000 new homes and apartments last month, a drop of 4.3 percent from November.

In a healthy economy, builders start about one million units a year. They built twice as many in 2005, at the height of the housing boom. Since then the market has been in decline.

Once again play the game of ‘what if this had happened under President Bush’? Try to imagine how this AP story would have read then.

This article was posted by Steve Gilbert on Wednesday, January 19th, 2011. Comments are currently closed.

16 Responses to “Worst 2 Years For Housing Since 1959”

  1. They forgot to thank Bawney Fwank, and Fannie and Fweddie. Shame on you A.P.

  2. Rusty Shackleford

    All my life I’ve wished that elected officials, who, in attempts to make life better for the masses would admit their mistakes and say “Oops, messed that up.” and never try it again. Seems that my naivte’ works against me and that it serves to defeat my hopes that elected officials are smarter than they really are. Thus it instead serves to bolster my cynicism and distrust of same. So I come to the conclusion that they are assholes who really cannot function at all in their positions and I am therefore forced to simply protect myself and say “to hell with them, for they are not going to do anything that helps protect me, as I try to play by the rules [that are so ridiculously out of whack] and must therefore just try to exist to my advantage and avoid the stymied rules by not traveling/buying anything that helps them/working inside “the system”, etc. Horrible way to live and only results in a society that is deeply dysfunctional. Yeah like Soviet Russia. In other words, doomed to fail.

    • Rusty Shackleford

      Incidentally, I sat and “vented” at the AP for the first time. I know it won’t do any good but it makes me feel better.

      What I sent to them was this:

      Why do you all think communism and socialism is such a great thing? Do you not realize everywhere it’s been tried, it fails and people die through no fault of their own?

      What is your major malfunction?

      The way you write “news” stories makes them just that; Stories. Very little truth, if any and tailored to indicate that conservativism is bad or evil and that socialism is the “way of the future”. Pathetic.

      Never felt compelled to write such an entity as yours as I have over the past several years where you are now on par with “Pravda” of the old Soviet Union. You are mush-minded contemptible morons who have never grasped the evils of a collective, oversize government that you think “gives the people what they want”. That’s not what government is necessarily for.

      And, my god, the way you fawn over the dictator wanna-be, obama. Truly, you are party hacks and cannot wait for the sickle and hammer flag to fly over this nation.

      GO TO HELL

      If you feel similarly compelled, their e-mail is: info@ap.org

    • proreason

      My view, as you probably know, is that the vast majority of elected officials either start out as or become white collar criminals. If they could create something, they would, sinc building things is much more satisfying than lying for a living.

      Much of the problem can be viewed as a by-product of the immense wealth that the United States has created. Every member of Congress, if he or she chooses to succumb to the criminal temptation, can easily become a multi-millionaire in 2 short years. I suspect that uber-bosses like Harry Reid are actually billionaires. What they put on their laughable “disclosure” forms are total lies.

      Where else can you become a billionaire in a decade by flapping your jaws in public for a few hundred hours a year. No talent whatsoever is required, unless you count the ability to lie with a straight face as a “talent”.

    • Mae

      Watch out, Rusty, visitors will be ringing your doorbell any moment now, flashing search warrants and confiscating your computer to check just who you correspond with. “Go to Hell” is a threat, ain’t it?

    • Liberals Demise

      No Mae, I believe Rusty was giving them directions.
      That’s all!

    • Rusty Shackleford

      I don’t care how they get there. I just want them to leave now and avoid the rush.

  3. tranquil.night

    Ah, see the national mass expansion of Suburbia from ’98-’08 is a stain on American History without even bringing up the collapse of the fat-cat banker’s insidious subprime bubble. The housing boom is a symbol of American excess, where the environment was pillaged and overpopulated, when every middle class white family had their 2.5 gas guzzlers and McMansion, consumed the resources that only kings and queens are supposed to be allowed, at the expense of the historic urban centers, public services, and infrastructure that all went to rot because selfish people wanted to own a bigger house instead of paying their moral dues to the state.

    The next decade is supposed to be about rethinking the American lifestyle for mass transit in preparation for high energy prices, revitalized, eco-friendly cities, lots and lots of centrally planned and provided services to make-up for fewer and fewer choices. Naturally we were never going to see Housing where it was during the boom because that isn’t the intention! Stop fighting the future, you backwards wingnuts! (Sarcasm off)

  4. JohnMG

    …..”They forgot to thank Bawney Fwank, and Fannie…..”

    I find the irony here deliciously appropriate…..and funny!

    How hilarious it is to see Barney Frank and “Fannie” not only associated in print, but also through dint of profession. And with “Freddie”, no less.

  5. GetBackJack

    I am a Contrarian. My view is that an economy based on building more houses is doomed to fail. The lust to build ever more “new” houses is eating up valuable heritage-quality farm and ranch land. Pushing commuters ever further outward. Contributing to congested roads, building roads into areas that ought not have congestion. Creating communities of hate like the liberals want the world to be. I’ve had more than one “economic development advisor” tell me that farm land doesn’t bring in the revenue that housing developments do.

    That pricked a button in me that nearly boiled over into assault. Once farm and ranch land is built on like this, it will never be un-built. Its gone forever. Dead.

    And if it mined, it has to be farmed.

    What an ******* idiot. A walking sack of cancer.

    And the “houses” these developers build! Great Gawd A’mighty. It’s the cheapest kind of mind-numbed BS building technique possible. HAVING BUILT houses that don’t use one damn cent of energy (in the 80s) I can tell you from personal experience that housing starts are more for the sake of the bottom line of Utilities than just about anything else. Air conditioning, forced air heating … my God you can’t get dumber than that. It is … singularly … the dumbest freaking idea that exists.

    In Germany they’re building houses that don’t even have a heating plant. In NORTHERN Germany. I can show you five ways to cool your house … if it’s built right …. without using one red cent. Heating it to a comfortable stable temperature is so easy it has to be a conspiracy that it’s not required by Code.

    But sticks and plasterboard and sprayed on Dryvit fake stucco and water based paints that peel and degrade in one season …

    IT ‘S ALL MEANT TO FUEL THE BORROWING OF $$$ FROM THE FED.

    Hells bells, EVERY BIT of our Housing Code and mortgage underwriting is geared to one thing and serves only one thing …. FNMA/FHA/VA requirements for what they’ll buy in the secondary market for their portfolios. Their Portfolio requirements mold America’s housing to suit their ends. THE FEDERAL GOVERNMENT CONTROLS HOW YOUR HOUSE IS BUILT.

    NO DEVIATIONS.

    Housing Starts serve our federal masters.

    Housing Starts do not serve the common good, our economy nor even the reality of a home built well. Every single housing development I’ve seen in the past 40 years is a slum in the making. And I despise them. (LOSING MY COOL)

    Housing Starts is the epitome of a Bubble Economy operated on debt.

    We briefly owned a home in the Santa Fe area that was 200 years old. Wonderful place. I have visited a house in Cornwall, England that is over 400 years old and still looks new. I’ve visited a church in the Charleston area that is 400 years old and shows no sign of wear.

    The “new” house down the road from us is two years old and already peeling and warping. (actually pulling my hair out, now)

    I do a bodily function from a great height on “Housing Starts”.

  6. proreason

    It’s much worse than portrayed.
    .
    The population 50 years ago must have been only about 2/3 of what it is today. Surely, the home starts are lower per capita than any year since 1946 or 47. If WWII and the Great Depression were removed, you might have to go back 100 years.

    What this means, frankly, is that lifestyles have profoundly decreased as a result of the Loans-to-Deadbeats Democrat scam and the policies of this marxist administration. Older homes have less amenities, fewer energy saving features, and require significantly more maintenance and repairs. All of that translates into thousands of dollars per year of additional expense for any older home. Across the country, it’s like sucking about a hundred billion in wealth out of the nation.

    They certainly are delighted about it It’s working even better than planned.

  7. Mae

    And no mention that a goodly percentage of jobs left in the building industry are being taken by those who stream into our nation without benefit of papers…except what they buy on Alvarado in L. A.

  8. TerryAnne

    So…they’re looking at the cookie cutter, McMansion, built overnight and not worth their weight in gold for what they cost housing that isn’t selling.

    What about all of the existing homes out there? Why did they just narrow this down to such a small area to make their claim (about housing sales being down)?

    I’m the first to say I’m no wunderkind of economics (although Barry and Co. have been great in teaching me the common sense basics, LOL!). So…maybe I’m wrong, but I’d think that maybe they should look at the overpriced property first…? Yes, I live 7 miles outside of DC in one of the top five richest (and highest taxed) communities in America. A tiny corner plot down the street from my apartment complex has been for sale for 4 years at $611,000! There is a house on it, but that’s not included in the price. Supposedly it is condemned, so you need to pay to have it torn down, in addition to the $611K. And, as a bonus, the company selling it won’t charge you for the design of the house you’d like to put in its place. So, all said and done, a approx. 1/8 acre corner plot with a new house = $1.5 million. And they can’t figure out why sales are down?!?!

    • Rusty Shackleford

      A democrat will soon put a house there; Just as soon as they figure out how to get someone else to pay for it.

  9. wirenut

    Hey, what gives? TN nailed it. I’ll eat dirt and wash up at the creek, with cold and colder running water. Make my way back to the sod hut, only to find that the government has redistributed the last of my bark investments. Thank God I left my burdock and sand burr accounts off-shore. Yes, I’m content to live in the woods—foraging. NOT! This is libtard payback. The organized destruction of what made this country great. It’s a “planned” community from here on out.




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