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Housing starts in U.S. weaken as construction stagnates; permits decline

Posted on 17 August 2011

Patrick NewportBuilders began work on fewer homes in July, indicating residential real estate is failing to contribute to U.S. growth two years into an economic recovery.
Housing starts fell 1.5 percent to a 604,000 annual rate, in line with the median forecast of economists surveyed by Bloomberg News, from June’s 613,000 pace that was less than previously estimated, Commerce Department figures showed today in Washington. Building permits, a proxy for future construction, also dropped……………………………………….Full Article: Source


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