Housing Starts and Building Permits Set New Record Lows

Article Date : 22 January 2009
News Section: USA

The housing sector continued to show weakness in December with housing starts and building permits sinking to new record lows. Housing starts fell to an annualized pace of 550k, representing a month-over-month decrease of 15.5%, according to data released from the U.S. Department of Commerce on Thursday morning. The drop pushes the number of starts to a new record low, dating back to 1964. The previous month's reading was revised down to 651k from a previously reported 625k. The consensus was...

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