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Housing growth nears historic U.S. low after ‘unprecedented’ overbuilding

Posted on 07 October 2011

The biggest housing boom in the last 30 years was offset by the sharpest slump in a generation, ensuring that the growth in residential units during the last decade remained at lows not seen since the Great Depression, the U.S. Census Bureau said.
The number of homes, apartments and condominiums added in the decade grew 15.9 million to 131.7 million, a 13.6 percent growth rate. Almost 90 percent of the growth occurred between 2000 and 2007. There were 2.1 million housing starts in 2005. Last year, there were 587,000, Census figures show……………………………………….Full Article: Source

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