If building permits really are the highest in five years, as the Residential Construction report implicates, how popular is residential real estate? Truthfully, the governmental shutdown during the fall of 2013 prevented the actual numbers to support much of the reported hype. A truly accurate reflection of housing units started and completed in September, October, and November won’t be available until mid-December. There is less evidence to support a boom in apartment housing since a recent decline in homeownership rates. Building permits for multifamily units predictably soared past single-family units in response to that decline.
Read the full article here: About Those Housing Building Permits