Housing Construction Reaches Highest Level Since 2008

A 15-percent surge helped housing starts in America reach a four-year high last month. The figure indicates that the housing market—the issue at the center of the financial crisis—may be on the road to recovery.

Starts jumped to a 872,000 annual rate last month, the most since July 2008 and exceeding all forecasts in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. The median estimate of 81 economists surveyed by Bloomberg called for 770,000. An increase in building permits may mean the gains will be sustained.

Additionally, work began on 34.8 percent more homes over the past 12 months, which is good for the biggest year-over-year increase since April.

The brighter building environment has made construction companies less pessimistic. The National Association of Home Builders/Wells Fargo builder sentiment index increased to 41 this month, the highest since June 2006 and the sixth-straight gain, figures showed yesterday. [Businessweek]

Around The Web

Be respectful of our online community and contribute to an engaging conversation. We reserve the right to ban impersonators and remove comments that contain personal attacks, threats, or profanity, or are flat-out offensive. By posting here, you are permitting Philadelphia magazine and Metro Corp. to edit and republish your comment in all media.

  • ReggieWhite

    Fantastic read as always. And good for Gus for exploiting the options weakness. Chip now can fix it and believe me Chip is a mad scientist when it comes to adjusting offences he’ll be prepared for the next team that throws the scrape method at him.

  • God work as usual Sheil.

    Re the scrape technique: Kelly – in college has shown he’s good for countering that. But it also shows me that Coaches took their summer homework seriously and learned some things from their clandestine trips to college campuses trying to figure out how to stop the read option.

  • Kleptolia

    Cal used the scrape against Oregon one year. It resulted in Oregon’s lowest offensive output that season, even though the Ducks won 15-13.
    Cal played a lot of cover zero that game. One high safety, like Jax played. It’s a good counter to the spread, but it’s not the answer. Philly fans will find that out in a while. I wish poetx would come along and explain the long and short of it. It’s an interesting point/counterpoint matchup.
    And, yeah, the offensive line needs to play better as a unit in order to get anything done. Hopefully they’ll figure it out before week 1.

  • hawaiieaglesfan

    Great jobSheil. Hawaii ran a triple option spread offense during the late 80s to early 90s. The teams that shut down Hawaii by running strict man to man with single safety high or 0 cover.
    Gus did the same to the eagles running single safety high and flooding the box. Basicly denying the run daring Vick to throw the ball.
    Chip saw this and took the vanilla approach put Vick under center to try to find sucess in the passing game. I dont think Chip wanna tip his hand offensively before the regular season.
    My point is Chip coached this game as well as he could during preseason. He tried to exploit the single safety high by trying to pass deep.
    He was taking what the defense was giving. I am sure in the regular season he will show more ceative ways of attacking this defense. Vick will probably not be taking snaps under center. Most nfl teams will probably be defending the eagles this way until the eagles can show they can pass just as efficently as they run.
    Let chess match begin!!!

    • kleptolia

      You’re right. Cal played this same type of defense two years ago and nearly beat Oregon with it. The next year, it didn’t work at all. Ducks won by 20+, if I remember right. Chip has several counters to this play. In fact, there’s an article about it on fishduck.com, I believe.

  • Pennguino

    That scrape technique play looks like it should have been a read like Foles did with Avant. As soon as Vick saw the LB coming around he should have went with the out pass. It was a 3 on 3 at presnap and the inside defender was in a back peddle. As soon as Vick pulled the ball back we had two blockers on one defender and the other two defenders were 7 yards off the LOS.

    6 on 5 for the run or 3 on 3 for the bubble. Thats a bubble read all day.