U.S. housing starts surged twenty percent in April, the highest since Nov 2007, and the biggest percent increase since 1991.
Housing is a significant driver of jobs with its multiplicative impact on consumer discretionary spending which becomes a virtuous cycle that will further bolster jobs. Jobs and stronger employment are catalysts for, not only future homebuilding, but increased housing prices further bolstering consumer confidence.
"The markets have been showing how fast they can reverse on the expectation of better news and likely the first quarter abounding weakness will look more like an anomaly than a trend." - said Voya Investment Management
