| With the housing market faring poorly, the top economist at the National Association of Home Builders lowered his forecast for home construction this year.
Builders are likely to break ground on 582,000 homes this year, down slightly from 585,000 in 2010 and a far cry from a peak of more than 2 million in 2005, David Crowe, the NAHB’s top economist said Wednesday. Crowe also forecasts that builders will start construction on only 431,000 single family homes this year — the lowest level of the housing bust...............................................Full Article: Source |