It’s Not Over Yet, Homebuilders

Ouch!  Housing starts really took a hit last month:

It’s not just unusually cold weather at work.  The western states had the steepest decline, though they are not usually as weather-affected as the northeast.  The northeast actually increased on a seasonally adjusted basis.  So what’s going on?  Overblown housing market is caving in.

Business Strategy Implications:  This is not the year that housing recovers, but later this year, housing will stop getting worse.