Featured News

More Articles  Printer Friendly Version

 

Housing Boomed Again In December

4876 2

The big news for investors this week is not about the new President, the impeachment, or Covid stimulus and relief. The big news is that a housing boom is under way. Housing starts rose for the fourth straight month in December 2020 to 1.669 million, beating the 1.560 million forecast and November’s 1.578 million.

The U.S. needs at least 1.6 million housing starts annually just to keep up with population growth and replace existing housing stock, according to a 2016 study by the Joint Center for Housing Studies of Harvard University. Housing starts have been below that level since 2007. An increase to make up for the past 14 years of sub-par housing starts would make sense.

December’s housing starts topped the peak reached at the end of the 128-month economic expansion in March 2020, despite the pandemic crippling small business and other major industry sectors.

4876 3

The Standard & Poor’s 500 stock index closed Friday at 3,841.47. The index lost -0.30% from it all-time closing high set on Thursday. It gained +1.92% from last week, and is up +52.77% from the March 23rd bear market low.

Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. It does not take into account your investment objectives, financial or tax situation, or particular needs. Product suitability must be independently determined for each individual investor. Tax advice always depends on your particular personal situation and preferences.
The material represents an assessment of financial, economic and tax law at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions.
Any investments or strategies referenced herein do not take into account the investment objectives, financial situation or particular needs of any specific person. The material represents an assessment of financial, economic and tax law at a specific point in time and is not a guarantee of future results.


Email this article to a friend


Index
The Bad And Good Financial News This Week
Stocks Set New High Closing Price Amid Turbulence
Stocks Gained +16% in 2020; Wall Street Expects +7.6% In 2021
Holiday-Shortened Week Ends With Stocks Little Changed, Despite D.C. Drama
The Financial Economic Situation Now
Bull Market Has Broadened
Why Did Stocks Close At A Record-High After Disappointing Jobs Report?
Americans Sit On A Mountain Of Cash Amid Pandemic
For High-Income Earners And Families, Failing To Plan Is A High-Stakes Gamble
Stocks Break Record, But Smart Money Is Focused On Taxes
Wall Street Reacts To D.C With A 7% Weekly Gain
On Election Eve, Here's The Economic Outlook
Sizing Up Economic Prospects
Two Good Economic Surprises
October Surprise May Be The Economy

This article was written by a professional financial journalist for Pacific Financial Strategies Inc and is not intended as legal or investment advice.

©2021 Advisor Products Inc. All Rights Reserved.