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Economic gains fail to revive housing

Posted on 19 May 2011

New-home construction fell last month as a slowly growing economy has yet to revive the moribund housing market.
Construction of homes and apartments dropped 10.6% in April to a seasonally adjusted annual rate of 523,000, compared with a month earlier, the Commerce Department said Tuesday. Home starts are down 23.9% from the same month a year ago, reflecting a market that has struggled as foreclosures drive down prices and builders face financing difficulties……………………………………….Full Article: Source


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