Labor and Material Requirements for Housing

Craig Swan

CS

Craig Swan University of Minnesota

Discussants: John Kareken

JK

John Kareken

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.