Friday, October 17, 2008
Economic News: Get the latest news, video, and polls!
WASHINGTON (Reuters) - Construction starts on new homes fell to a new 17-1/2 year low in September as builders scaled back amid a worsening housing slump and growing turmoil in financial markets that helped pushed permits for new homes to a nearly 27-year low.
The Commerce Department reported on Friday that starts on new homes fell 6.3 percent to a seasonally adjusted annual rate 817,000 units, their slowest pace since January 1991. This was well below the 880,000 rate that Wall Street economists polled by Reuters had expected.
Full Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment