Housing Starts, over time
Housing StartsDemocratic administrationRepublican administration
What was happening
1Subprime mortgage crisis spreadsAug 2007
Losses on subprime mortgages begin to freeze credit markets as the housing downturn deepens. Source: Federal Reserve History ↗
2Great RecessionDec 2007–Jun 2009
An 18-month recession by NBER dates, the longest since World War II, following the collapse of the housing market and a financial crisis. Source: National Bureau of Economic Research ↗
3Lehman Brothers collapsesSep 15, 2008
The largest bankruptcy in U.S. history marks the most acute phase of the financial crisis. Source: Federal Reserve History ↗
4COVID-19 recessionFeb–Apr 2020
The shortest recession on record by NBER dates: two months, February to April 2020. Source: National Bureau of Economic Research ↗
U.S. Census Bureau · New Residential Construction: housing units started · Monthly · Original source