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Tag: construction spending

Housing Starts Plunge 14% on Volatile Apartment Sector – Recovery?

Home Construction Drops 14.4 Percent as Building Permits Also Slide U.S. home construction plunged in August, led by a steep decline in the volatile apartment category. But single-family house construction, a larger and more stable portion of the market, fell only modestly. Construction fell 14.4 percent in August to a seasonally adjusted annual rate of 956,000 homes, the Commerce Department[...]