Housing starts spiked a monthly 15.0 percent in September to an annualized pace of 0.872 million units. This was up 34.8 percent on a year-ago basis. The latest increase was led by the multifamily component which jumped 25.1 percent. However, the single-family component also improved, gaining a notable 11.0 percent in September after a 7.3 percent increase the prior month.
Bottom line: As we have been pointing out here at EPJ, the Bernanke money printing is hitting the system.