Housing Starts Off 77% From 2006 High

Buried deep in the story at the link below regarding various economic indicators, is the revelation that new construction starts are down a whopping 77% from their highs in 2006. Granted, the 2006 highs were unsustainable. However, isn't this steep of a decline at least a little more newsworthy than being matter-of-factly explained near the bottom of a story that contains so many statistics starting with a 0. something that it is admittedly difficult to get through?

Most readers probably don't make it far enough through the article to get to the part about the sharp real estate decline. And this is the best article on the subject according to a Google search of "new construction starts down 77%." I went looking for the story containing this data and the best I could find from our top-notch media is this:

Click here for article

This news, along with the continued rate of housing foreclosures would seem to be front page news. Unless of course the media is trying to help the Obama administration out by downplaying how bad things really are.

The national debt is at crippling levels, foreclosure rates are higher than two years ago, the housing market has all but disappeared, the real unemployment rate is near 20%, the Fed is monetizing our debt, anything else? I'm sure there is. But let's point to the stock market that continues to be fairly strong despite overwhelming evidence that we are in a full scale depression. Something about that doesn't add up either. But it looks like big business is okay, they've weathered the storm for now by laying off 1/5 of this country's labor force. So we should all be happy that profits are up for big business, Wall Street seems to be. Don't get me wrong, I am not against big business, I am against being lied to.

This is just a little outrageous as the American people continue to be lied to, manipulated, ignored and discounted. How's that hope and change thing working out for you? Unless you are on Wall Street or in one of Obama's favored Unions....you are getting screwed! And you're being told it's just a "love pat" so keep quiet and move along.