Building Surges in January 2006

From the news....

Construction of new homes and apartments shot up in January 2006 at the fastest pace in more than thirty (30) years!

The Commerce Department reported yesterday that building activity was up 14.5% when compared to December 2005, pushing construction to a seasonally adjusted annual rate of 2.276 million units nationally.

That was the fastest construction rate since March 1973 and the annual rate of 1.819 million units is the all-time high.

Reminds me of the Yogi Berra quote about the restaurant..."Noboby goes there anymore, it is too crowded." He might remark on this market...

"Nobody is buying real estate anymore, there is nothing for sale."