Housing Starts? Census Bureau Reporting Reaches New Level Of Absurdity
by Dave Kranzler, Investment Research Dynamics
Census Bureau definition of a housing “start:” Start of construction occurs when excavation begins for the footings or foundation of a building. Census Bureau
The Shadow of Truth did an interview with NY Post report John Crudele, who is the journalist who caught the Census Bureau fraudulently reporting employment data: The Unemployment Rate In And Of Itself Is A Joke.
Crudele and the NY Post currently have six Freedom of Information Act requests with Census Bureau, to which the CB refuses to respond or hand over documents. Some of them are more than a year old. If the Census Bureau/Government does not have any foul play to hide, then why not respond the to the FOIA requests and dispel all doubt?
With this as the context, I think its safe to say that it is highly likely that the CB data with respect to housing starts is wildly inaccurate, especially in light of the collapsing price of lumber:
In fact, when you examine the Census Bureau-generated “housing starts” number vs. the market price of lumber, the Census Bureau data has no credibility (source: Zerohedge, edits are mine):
The fundamental economic data as measured by the market does not support the data being reported by the Census Bureau. If housing starts were flourishing, the demand for lumber from new homebuilders would be pushing the price of lumber higher.
Given that we know the Census Bureau has been fraudulently reporting employment data, it is highly probable that the Census Bureau’s data collection and reporting process with respect to housing starts and new home sales is corrupted.