Lower housing starts is a good thing

Lower housing starts reduces inventory and will eventually get us back on track. Of course it impacts the sales of building materials and the employment of construction workers, but that is just part of a necessary process. The sooner the better.

In my neighborhood there are five houses within a couple hundred yards of my house for sale. Three are new, tear downs turned into minis, and they have been on the market for six months, seemingly fine buildings now marked down.

Buyers are beginning to come out, but we don't need more supply.