“The rebound in housing starts has been uneven between single-family and multifamily housing,” writes David Schawel, CFA. “Single family has rebounded from a trough of ~400k annual starts to ~650k, but well below the peak of 1,800k in 2006. It’s a very different story in multifamily housing where housing starts are now at levels equal to or greater than pre-crisis at ~440k.”

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