Data Indicates Housing Bust is Just Beginning 
Yesterday, markets were pleased with some seemingly positive housing data. Unfortunately, markets failed to learn from past mistakes.
First, a short primer:
Housing Starts: The number of residential building construction projects begun during a specific period of time, usually a month
Housing Permits: The number of legal authorizations (permits) given to build privately owned housing units during a specific period of time.
Housing Completions: The number of residential units with construction completed over a period of time.
Understanding the definition and relationship of these three indicators is critical to understanding the true health of America's housing market.
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