Housing starts soar in August but permits plunge to 15-month low

In face of historic inventory shortage, privately-owned housing starts jumped 9.2% month-over-month and 9.4% year-over-year

Privately owned housing starts jumped 9.2 percent month-over-month and 9.4 percent year-over-year to a seasonally adjusted annual rate of 1,282,000, according to the latest data from the U.S. Department of Housing and Urban Development and U.S. Census Bureau.