It's Official: Economic Recession Sank Housing Market in 2008
It was a record year for the housing market . . . in a very, very bad way
Posted January 23, 2009
- 1.4 million: Number of houses authorized by building permits in 2007
- 900,000: Number of houses authorized by building permits in 2008
- 36.2: Percentage decline between 2007 and 2008
- 45: Percentage decrease in privately owned housing starts from 2007 to 2008
- 2008: The lowest annual number of housing starts since 1959
- 76: Percentage decrease in the price of builders' stock since 2006
Read more Data Points
Sources: U.S. Census Bureau, Bloomberg
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