While the housing market has a long way to go before we can declare that it has undergone a "recovery," the latest report from the Department of Commerce (Commerce) indicates that there is some positive momentum. On Wednesday, Commerce released its monthly "New Residential Construction" Report for September 2012. New privately-owned housing unit starts increased nationally to a seasonally adjusted 872,000, an increase of 15.0 percent from August 2012 and 34.8 percent from September 2011. This represents the highest level of new starts in over four years, albeit below pre-recession levels.
Rather than try to craft new housing plans that involve government intervention, the housing report exemplifies the resilience of the American spirit, that if permitted to flourish, the private sector will grow. The best "housing plan" that Washington can offer you is one that fosters an environment of economic growth and job creation. If folks have more money through increased job opportunities, housing will clearly follow.