The latest statistics on Housing Starts were released today by the Commerce Department and they've dropped to the lowest level since 1959 when they started keeping statistics. Most news reports framed this as more bad news for the housing market and the stock markets reacted accordingly. But in my opinion, less new construction homes aren’t really bad news.
Don't get me wrong, I feel for the home builders, small and large, who are struggling to sell the homes they've already built and complete projects they've already started to keep their businesses going. But so many parts of our country are suffering from overdevelopment, which has no doubt contributed to the drastic housing downturns in places like Arizona, Florida and Nevada. So I can't help but wonder if the new home building stops or at least slows down for a while, maybe the existing home sales will start to increase? Why not focus our energy on selling the homes and condominiums that already exist before we try to add more new construction to the mix? Wouldn't it be good for the economy, the home owners and the neighborhoods?
Just my two cents worth of thoughts on the latest housing news. | 
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