Housing starts, stop
Building Permits, Current Events, Homebuilders, Housing Starts, Meltdown | (0)
From the USA Today:
Construction of new homes fell to a 17-1/2 year low in September and the worsening housing slump and growing turmoil in financial markets helped pushed permits for new homes to a nearly 27-year low.
The Commerce Department said Friday that starts on new homes fell 6.3% to a seasonally adjusted annual rate 817,000 units, slowest pace since January 1991. This was well below the 880,000 rate economists expected.
The September rate of starts on single-family homes fell 12% to a 544,000-unit annual rate, slowest pace since August 1982.
With falling home prices, soaring foreclosures and financial turmoil curtailing the availability ...
