WHILE this year has been a difficult one for many sectors of the American economy, the housing sector—little by little, and bit by bit—has been firming up over the course of 2011. Not, however, in the way Americans are used to experiencing a housing recovery.
Consider this week's data points. Yesterday, the National Association of Home Builders announced a surprising jump in homebuilder confidence for the month of October. Today, we learn that housing starts in September were surprisingly strong, but far more so for multifamily than single-family homes:
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