Weak Apartment Construction Offsets Gain in Single-Family Homes
Housing starts plunged to a record low in April due largely to a steep drop in apartment building, although there was a rebound in single-family construction. The Commerce Department reported that construction of new homes and apartments fell 12.8% to a seasonally adjusted annual rate of 458,000 units in April, the lowest pace on records going back a half-century. And, to make matters worse, building permits, a barometer of future housing construction, declined 3.3% to a record low annual rate of 494,000. On a positive note, starts of single-family homes rose 2.8% in April to an annual rate of 368,000, following a 0.3% gain in March and no change in February. The improvement in single-family construction indicates that the three-year slide in housing may have already bottomed. However, in the more volatile multifamily sector, construction plunged 46.1% to an annual rate of 90,000 units after a 23% drop in March. Total housing construction fell 30.6% in the Northeast, 21.4% in the Midwest and 21.1% in the South. Starts jumped 42.5% out West.
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Date Last Updated: 05/20/2009
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
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Staffing Firms
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whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
to gain your share with a FactorLine facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding service, enabling you to increase your cash flow without the need
for bank loans. We are always adding new industries and will consider factoring
service providers in any industry.
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