Another bad report this morning, but I think that there is a silver lining on this one. I would attribute some of this to tightening lending practices. People can no longer build a new house with bad credit, no money down, and a handshake. The reality is that too many people are living in houses they can’t afford.
This drop in construction is bad for the economy, but it is a product of our economy trying to correct itself.
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.