Although the Houston Chronicle is reporting that 2009 September’s housing permits rose 10.3% compared to last year’s September what they failed to point out is we had a little rain storm name Hurricane Ike last September.  I mean seriously, is this any surprise?   I would hope that builders requesting permits would be higher than last year when the city was shut down for two odd weeks. 

Just goes to show that numbers can be used anyway you want them.   By the way we’re down roughly 27.2777778% for the year.  Just an estimate folks.   Good news is that maybe we’ll burn off some of the inventory and prices can stabilize with fewer new homes going up.

The Bank Slayer