Econchart Feddebtpurchase 012010
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The National Association of Home Builders will publish December housing start numbers this week, an important leading economic indicator. Despite low mortgage rates and the Federal Reserve's massive purchases of mortgage-backed securities to stabilize the housing market, housing starts have remained flat in 2009. The Fed has spent over $1 trillion purchasing mortgage-backed securities, but its efforts have not yet boosted housing construction according to the December numbers.
Econchart Feddebtpurchase 012010
- 1. The Fed卒s Trillion Dollar Lifting Job The National Association of Home Builders will publish the December Housing Start numbers this week - they are one of the more helpful leading indicators for the economy For 2009 housing starts have been flat, ignoring low mortgage rates and the Fed卒s massive purchase program of mortgage-backed securities The Fed卒s Massive Effort to Stabilize the US Housing Market Fed Purchases of Mortgage-Backed 1000 2400 US Housing Starts Securities Thousand Units 800 1800 Annual Rates Right Scale in Billions of Dollars Left Scale 600 1200 Source: St. Louis Fed, Dallas Fed 400 600 200 1782 2147 1570 1179 655 488 574 521 479 551 590 593 581 586 527 574 0 11/04 11/05 11/06 11/07 11/08 1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 You can buy me for reprint at www.markusgaertner.com Jan. 19, 2010 RSS FEED for all CHARTS at www.slideshare.net/markusgaertner GAPA NEWS