Speedup in Housing

The U.S. has been building more new homes than Government figures showed, the Census Bureau concluded last week. New figures, based on a much broader, more accurate sampling, showed that the U.S. last year put up 1,530,000 nonfarm housing units v. the 1,380,000 previously reported. The new statistics also make a less cheering point. They showed that building so far in 1960 is down 22% from last year instead of 19%. The drop in housing starts this April, as compared to April 1959, was 24% instead of 22%, confirming the complaints of many U.S. builders that they have been hurting worse than the statisticians believed.

Building now seems to be quickening. The upswing started in late April and, thanks to a steady easing in the money market (see above) and better weather, is expected to hold solid and steady for the rest of 1960. Government housing experts expect 1960 to be a 1,300,000-plus housing-start year, based on the new census figures, rather than the 1,200,000 year earlier expected.

This file is automatically generated by a robot program, so reader's discretion is required.