Housing starts hit highest in four years

[No Elephants]

Housing starts rose to their highest rate in more than four years in October, suggesting the housing market recovery was gaining steam, even though permits for future construction fell.

<snip>

The housing market has turned around after an unprecedented collapse that landed the economy in its worst recession since the Great Depression. The recovery, marked by rising home sales, prices and building activity is being driven by pent-up demand against the backdrop of record low mortgage rates.

The Federal Reserve has targeted housing as a channel to boost growth, announcing in September that it would buy $40 billion in mortgage-backed securities per month until the outlook for employment improved substantially.

http://www.nbcnews.com/business/economywatch/housing-starts-hit-highest-four-years-1C7172738



Weren't mortgage-backed securities what caused the housing crash of 2008?

[Enthusiast]

1. 40 billion is securities a month?

That's like as expensive as the Afghan War. Holy crap! But we must cut social security and medicare because they are causing the deficit. We must build a new bubble!

[formercia]

2. When you get evicted, the Fed will own your home

Lovely thought. Not.