Housing starts drop in August
Building Permits, Current Events, Housing Starts, Meltdown | (0)
From the Wall Street Journal:
Home construction tumbled a second month in a row during August, falling below expectations to the lowest level in 17 years.
and:
Housing starts decreased 6.2% last month to a seasonally adjusted 895,000 annual rate, the Commerce Department said Wednesday. Single-family home groundbreakings also declined, and building permits fell sharply.
Economists surveyed by Dow Jones Newswires expected August starts to drop by 1.6% to a 950,000-unit annual rate. The level of 895,000 was the lowest since 798,000 in January 1991.
July housing starts decreased 12.4% to 954,000, revised down from the originally reported drop of 11.0% to 965,000-unit annual rate. ...
