I just posted the Building Permits and Housing Starts for the State of Minnesota, and now I see they just released the Minneapolis/St Paul charts. This is what counts for us, not the national stats or State stats – although they are a good barometer.
As you can see we are “bouncing along the bottom” still. I wish we had data going back further to see how this compares to other recession periods. Housing Starts and Building Permits will continue to bounce along the bottom until the region starts creating more jobs, supporting additional population (immigration and natural birth). We need to keep a close eye on the employment figures, see chart following the permits and starts below:
These were released today (8/25/2011) from the US Department of Commerce: Census Bureau.