US Housing Starts Disappoint In May; Permits Plunge To Lowest Since October

https://www.zerohedge.com/economics/us-housing-starts-disappoint-may-permits-plunge-lowest-october#comment-stream 

Amid a wave of weaker than expected housing data (sales, mortgage apps, homebuyer sentiment, and homebuilder sentiment), Housing Starts  were expected to rebound in May (while the more forward-looking Permits were expected to drop). Reality was worse in both cases as Housing Starts rose 3.6% MoM (less than the +3.9% MoM expected) after a massive downward revision to -12.1% MoM in April (from -9.5% MoM). Permits tumbled 3.0% MoM (notably worse than the 0.2% MoM drop).

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"Inflation is transitory just like the subprime was contained." -Peter Schiff