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Housing starts up over 40% in past 18 months

This chart provides good evidence that housing starts have turned up in a big way. Since Dec. '10 (which I've marked with a green line), starts are up 41%, or at a 25.7% annualized rate. Of course, the level of starts is still miserably low (they fluctuated between 1 and 2 million from 1968 until the current recession), but the gain in the past year or so has been signficiant. The recovery in residential construction is upon us, and it is for real.

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