Steve Syre - Boston Globe Biz Reporter

A double. -- we have to take a break from death panels for a few minutes because. The death penalty businesses here Steve sirens. Doctor Who -- we talk to him every day I'm. Oh my lord.

At today's Boston business report with the globe Steve's site is bringing. Is being brought to you by The Wall Street Journal demonic Steve.

Boy I wanna put that bumper music they brought me it.

I have no I don't know we're not supposed to acknowledge the -- isn't it just there is part of the army announced it -- that. He doesn't now. He just plays -- he doesn't rightist. So BI this it is some bad numbers of people were surprised that there are some bad numbers the recovery apparently is on the rocks what's gone --

Well they they their usual soup of economic statistics that get. Dished out -- virtually every week today's number is about. Housing starts across the country in this is that a number that has been generally getting better through the summer and people expected the new number which reflects October. To continue to get better and it didn't -- it went down. Quite a bit about 10% from. The previous month then about 30% down from the -- that October from last year -- so that was bill Obama volatile number that gets changed over time but. Direction only it wasn't what people expected it it was of fairly big disappointment.

How big of a disappointment and how we I mean sure we take these ups and downs as normal as that we sent.

Well I think there is a lot of unhappiness in all these numbers that we talked about housing start numbers have been a particular component in here right around this time because. You're your target that people who were either. Starting to build single family homes or condominiums or apartment building that's kind of the world that we're looking at. And within that area. We were coming up against that deadline for the the first time homebuyer tax credit that -- grant tax credit which was supposed to expire November. And I think clearly that had an impact on people's saying. Well we don't know it's gonna be extended or not in October or early October we really gonna. Start building a new house and hope for the best here. And things kind of fell down a little bit. That you know the good news is I think it is bumpy and it'll get better now that the bad news is I think it reflects how important that artificial stimulus. But of the tax credit is in propping up the housing market right now.

While an and so if you think that is and I official stimulus. As opposed to just a bridge back to more normal activity. That it seems to be a mirror of the cash for clunkers that we had the surgeon to the auto show rooms. For a couple months -- several weeks at least and then all of a sudden you're gonna find a live person and any of -- showrooms.

Well I think it may still turn out to be bridge but we're gonna be driving over a lot.

Not too long expensive.

Yeah all right I think in the end yeah it's good to get a housing market that's recovering without any kind of stimulus effect did you like that almost everything else we talked about in the economy. You're gonna need to a broader sense of confidence about people's job to -- and you know at least direction only good news on unemployment and and so we really get that I think it's gonna be hard to have something as fragile as the housing market. -- covered by itself and that I think these housing start numbers are another piece of evidence to to suggest that.

All right further proof that hope and change a in all it was cracked up to -- up. Steve assessment come conforms with the -- on notice that it's all about jobs and nothing else JO BS got that three letter word SI report has been brought to you by The Wall Street Journal back in a moment -- succeeding WRKO.