Housing Starts Plummet


"The Commerce Department reported Friday that construction of new homes and apartments dropped 6.3 percent last month, a much bigger decline than the 1.6 percent decrease that had been expected. It pushed total production to a seasonally adjusted annual rate of 817,000 units. That’s the slowest pace since January 1991, a period when the country was in a recession and going through a similar painful housing correction." — NYT/AP

Copyright Brown - Brownstoner
Contact Us