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Marketplace’s Nova Safo has more.
Housing starts — essentially how many new homes are being constructed — are up 14% year over year. Guy LeBas, chief fixed income strategist for Janney Montgomery Scott, says this kind of growth can have a “multiplier effect across other areas of the economy.” “Each dollar spent on what we call residential investment, which is sort of building a new house or renovating, generates as much as $3 to $5 of other activity elsewhere in the economy,” LeBas said. “So that’s, that’s one really positive sign that I think we need to spend some time looking at and feeling good about.”