Note the highlighted changes in housing starts last year vs this year.

For the economy to grow as much this year as last year, all the pieces have to grow as much, and if any piece doesn’t grow as much, another has to grow that much more to make up for it.

Furthermore, single family is what’s declined, and as a single family unit costs more than a multi family unit, in $ terms it’s worse than this chart shows.

And so far I haven’t seen anything growing that much more than the drop in the rate of growth of housing