Housing Starts Tank
October 17, 2008 by Douglas A. McIntyre
According to The Wall Street Journal, "Home construction took its third tumble in a row during September, falling to the lowest level in 17 years, and a sign points to further decline in the fourth quarter."
Housing starts decreased 6.3% to a seasonally adjusted 817,000 annual rate, after falling 8.1% in August to 872,000, the Commerce Department said.
Friday’s data on starts showed building permits decreased 8.3% to a 786,000 annual rate in September. Economists had expected permits down 2.0% to a rate of 840,000.
Douglas A. McIntyre
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