Monday, November 27, 2006

Bloomberg - "U.S. October Housing Starts Drop to Six-Year Low (Update2)" (11-17-06)

"Housing starts in the U.S. tumbled in October to the lowest level in more than six years, as waning home sales and swollen inventories discouraged new projects."

"Builders broke ground on 1.486 million new homes at an annual rate, down 14.6 percent from September's 1.74 million pace, the Commerce Department said today in Washington. Building permits dropped to a 1.535 million pace, a record ninth straight decline and the lowest since December 1997."

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