Starts = 973
Completions = 1628
Under Construction = 26035
Completed but Not Absorbed Units = 2261
This is the time of year for predictions so here are some things I expect we will see in 2009:
1) Starts will fall dramatically to the 12,000 annualized level.
2) Completions will also fall but will exceed starts for the next couple years.
3) Under Construction will fall to the 18,000 level or more by the end of 2009.
4) Completed and Not Absorbed units will rise significantly to over 4,000 units.
What do you think?