With the US effectively locked-down thanks to the Wuhan virus, it is not surprising the US housing starts dropped 22.3% MoM in March.
It is the worst dive in housing starts since 1984.
What is surprising is that with The Fed going all out to lower interest rates, they were not able to stop the skid of the housing market.
Why? While initial jobless claims has slowed, continuing jobless claims have hit all-time highs.
Yes, The Federal Reserve (Green Man) is not able to fix the Wuhan virus problem.