BPEA | 1971 No. 2

Labor and Material Requirements for Housing

Craig Swan
Craig Swan University of Minnesota

1971, No. 2

HOUSING STARTS INCREASED dramatically through the second quarter of 1971, rising almost 60 percent over their level in the first quarter of 1970. Private nonfarm starts for 1971:2 were at a seasonally adjusted annual rate of 1,961,000 units, and in August reached a rate of 2,235,000 units, their highest level in the postwar period. While starts rebounded throughout 1970, their continued strong increases through 1971 have surprised many observers.