The Phaserl


Housing Starts: Biggest Plunge In Four Years

by Dave Kranzler, Inevstment Research Dynamics:

Will the price of lumber be the tell-tale that they can’t hide?  Or do you want to believe the “it was the bad weather in New York, man” narrative?   Housing starts ripped lower in February, down 17% from January.  They were 14.4% lower than consensus estimate.   Here’s the data link:  Housing Starts.

Let’s think about that for moment:   housing starts missed Wall Street’s brain trust consensus estimate by 14.4%.   IF the weather was expected to play a factor in housing starts, wouldn’t Wall Street have revised its estimates for February lower to reflect that?  After all, every analyst has had nearly 3 weeks since the end of February to revise down their estimates knowing there was some snow in New York during February…

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