If you had told someone a decade ago-after the election of the first black president, and in anticipation of the first black female vice president-that race relations in the United States would devolve into hysteria and incivility, it might have seemed like the counter-historical fantasy of a satirical novelist, in clear violation of the arc of history that, Martin Luther King assured us, "bends toward justice." Today's anti-racist activists, in that sense, are not progressives (although they claim to be). They are anachronists who fail to faithfully acknowledge and inhabit the spirit of...
U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.56 million in September, representing a 1.6% decrease from the previous month, the U.S. Census Bureau reported Tuesday. Compared with September 2020, housing starts were up 7.4%.
The pace of permitting for new housing units also dropped in September. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.59 million, down 7.7% from August, in line with the rate of permitting from a year ago.
Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.61 million and building permits to come in at a pace of 1.67 million.
The drop in permits was driven mainly by a decrease in multifamily housing units, though fewer single-family homes were permitted as well. New construction on multifamily buildings also decreased in September, though single-family starts remained flat.