although single-family housing starts dropped by 50 percent in 1966 to about 800,000, they peaked in 1972 at about 1.3 million. After falling to approximately 850,000 in 1975, housing starts rose to more than 1.4 million in 1977.
As mortgage rates skyrocketed past 16 percent, housing starts collapsed to 705,000 in 1981 and then to only 663,000 during 1982.
Despite the government's lowering of mortgage rates in 1990, housing starts quickly plummeted to 895,000 in 1990 and to only 840,000 in 1991.
Housing starts in 2002 stood at 1.71 million
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housing
housing starts began slowly declining in 1987, as interest rates edged upward, and the U.S. economy began to fall into a recession.
Housing starts are a crucial economic indicator because they signal the health of the construction industry, which is a significant contributor to overall economic activity. Increases in housing starts often reflect rising consumer confidence and demand for housing, leading to job creation and higher spending in related sectors. Moreover, they can influence interest rates and monetary policy, as robust housing activity can drive economic growth. Thus, monitoring housing starts helps economists and policymakers gauge economic trends and make informed decisions.
Housing starts increased from 1.2 million in 2000 to an estimated 1.6 million in 2003. Growth in the industry is expected to level off after 2003.
Because the plastic housing is cracked. That is what happened to mine.