An Alternative Housing Recovery Story

The following chart shows new home sales divided by existing home sales.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW92y9G2iRp_ssovVNkNNqCAe29_LXa5-LrCGtk_SK_qF7xBrPFtUaCR3n9fLK2n-gmGiuVLtNCWz8GG8alFccVO5qD5QtRfZiJFIJ_ZvNYwvv7Nn9iGA1nZ-GHijrM_ZD3jeki16dAeQ/s1600/An+Alternative+Housing+Recovery+Story.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW92y9G2iRp_ssovVNkNNqCAe29_LXa5-LrCGtk_SK_qF7xBrPFtUaCR3n9fLK2n-gmGiuVLtNCWz8GG8alFccVO5qD5QtRfZiJFIJ_ZvNYwvv7Nn9iGA1nZ-GHijrM_ZD3jeki16dAeQ/s320/An+Alternative+Housing+Recovery+Story.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br />1. New home sales create construction jobs.<br />2. Existing home sales do not create construction jobs.<br /><br />The next chart shows residential construction employees per capita.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRS-e5p3spJd1vNvmsYOSPbGq09B9oJHau-mfxQtvPjVGXuVRGQgrMRmme3OQDsYbqHF7MheYc7CV5-Pz0xA8Y-nyCr7LEOKh20mJbtxQdJ2IHUvj_kh7rK4qxA6Cr841sXQoUQHXibpY/s1600/Residential+Construction+Employees+per+Capita.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRS-e5p3spJd1vNvmsYOSPbGq09B9oJHau-mfxQtvPjVGXuVRGQgrMRmme3OQDsYbqHF7MheYc7CV5-Pz0xA8Y-nyCr7LEOKh20mJbtxQdJ2IHUvj_kh7rK4qxA6Cr841sXQoUQHXibpY/s320/Residential+Construction+Employees+per+Capita.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br />Note the exceptionally weak recovery in residential construction employment.<br /><br /><a href="http://en.wiktionary.org/wiki/rearrange_the_deck_chairs_on_the_Titanic">rearrange the deck chairs on the Titanic</a><br /><br /><div style="color: #666666;"><i>To do something pointless or insignificant that will soon be overtaken by events, or that contributes nothing to the solution of a current problem.</i></div><br /><b>Source Data:</b><br /><a href="http://research.stlouisfed.org/fred2/graph/?g=rol">St. Louis Fed: New Home Sales / Existing Home Sales</a><br /><a href="http://research.stlouisfed.org/fred2/graph/?g=ron">St. Louis Fed: Residential Construction Employees per Capita</a>

An Alternative Housing Recovery Story

The following chart shows new home sales divided by existing home sales. Click to enlarge. 1. New home sales create construction jobs. 2. Ex...

Read more »