No Green Shoot Here

[rjwjr]

Here is a copy of an article in today's local paper. The bold-ing is mine. So much for the MSM reported housing turnaround. It ain't happening here...

Published: Thursday, August 6, 2009 at 1:00 a.m.
Last Modified: Thursday, August 6, 2009 at 12:10 a.m.

Home building in North Port has finally hit bottom, as the city that was once at the epicenter of speculative building in Sarasota County issued no new home permits in July.


HOME PERMITS
2009 new home permits in North Port

January: 6

February: 1

March: 6

April: 4

May: 4

June: 2

July: 0

SOURCE: City of North Port



The standstill in construction capped three years of declining activity, including a string of months when the city issued only a handful of residential building permits monthly. North Port issued just two new home permits in June before hitting zero last month.
For the year, North Port has issued just 23 permits, fewer than it issued on many days during the building boom.

[dummass]

Re: No Green Shoot Here

On the subject of "green shoots," it has been reported lately by the MSM that the Panama Canal has recently increased shipping traffic by 25%, inferring that world commerce is on the rise. This couldn't be further from the truth!

Due to record low ship traffic, the Panama Canal Authority has recently changed its fee structure to encourage empty ships to transit. Shipping rates are now based on weight; offering a subsidy to ships without cargo.

[flintlock]

Re: No Green Shoot Here

Good catch Dummass.