Quote of the day: No sign of new bouncing

“There’s probably some element of ‘it’s been down so low, it; looks up to me.’ … That being said, demand for new homes doesn’t show any signs of new bouncing. You’re not seeing builders say things are coming back.”

– Mike Larson, housing industry analyst at Weiss Research, commenting on the news of the day from the Commerce Department that February housing starts rose 22.2 percent from January.

Despite the favorable headlines and the news that housing starts in the Midwest were up 58.5 percent, Trib writer Mary Ellen Podmolik writes that the Chicago market “appears to be anemic, at best.” When compared with the same one-month period last year, new housing starts in the region are off by 45.5 percent.

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