Housing starts remain very low   

November housing starts totaled 555 thousand (seasonally adjusted annual rate), up from a revised 534 thousand in October. Housing starts remain far below the average of just over 1.5 million per year over the last 40+ years, and even farther below the 2.2 million peak of the most recent housing boom. Total starts have been under 1 million (SAAR) for 29 straight months, averaging only 612k during this stretch. The all-time low was 477 thousand in April 2009. Single-unit structure starts were only 465 thousand in November. Since 1968, the U.S. population has grown from 200 million to over 300 million. Low housing starts not only impact transportation demand for building products but also for appliances, furniture, and other related items. The vertical bars represent recessions.