Don't look now, but housing could finally be on the mend. While job creation was a bit disappointing last month, housing may begin to add to the GDP instead of subtracting from it. Building permits rose to their highest level in more than three years last month, while inventories of unsold homes fall and home prices slowly creep up.
To be clear, we've still got a long way to go in working off the excesses built up in the housing bubble. I'm not predicting a return to rapid growth in this sector, but it does look like the stage is being set for a housing turnaround.
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