Last month’s housing starts were the lowest in 12 months:
The month-to-month figures bounce around a lot, but this is definitely a down bounce. I think new housing construction is past its peak and headed down. Permits tell the same story as actual starts:
Business strategy implication: The entire supply chain for new construction should be nervous. However, other businesses won’t be impacted, because the non-housing portions of the economy look solid, and they are much bigger than housing construction.