Monday, October 31, 2005

The Building Market Rises, but Not Because of Katrina?

An article on CNN.com stated that the Census Bureau reported that the building market 3.4% to an annual rate of 2.11 million during September. Some economists believed that the rate would slip to around 1.98, but they were wrong. When you hear this statistic you are probably thinking that it is due to the damages caused by Hurricane Katrina and Hurricane Rita. However, the article states that the hurricanes are not the reason for this rise in the number of houses being built. The Census Bureau said that the impact of the hurricane on the regional and national numbers were minimal. What do you think about this stat? Does it surprise you that the hurricane had minimal impact on the rise of building in the nation? What does this say about the country's economy?

No comments: