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Housing

Flash: August Housing Starts Come In Weak

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By Jon C. Ogg Published
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August Housing Starts hit 750,000 for a gain of +2.3% but the prior month was revised to -2.8% from -1.1% originally set.

Consensus estimates: Dow Jones had a target of +2.5% on housing starts; Bloomberg was calling for +2.9% to 768,000 in housing starts.

QE3 is still dominating headlines.

Bloomberg notes that a housing start is registered at the start of construction of a new building intended primarily as a residential building at the beginning of excavation of the foundation for the building.

MORE DATA TO FOLLOW

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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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