Wednesday, October 17, 2007


Housing news not good.

Meanwhile, a separate government report showed that U.S. home construction starts fell 10.2 percent in September to their lowest level in more than 14 years while building permit activity, a sign of future construction plans also dropped to a level not seen since mid-1993.


Separately, the Commerce Department said housing starts set an annual pace of 1.191 million units in September, lower than the 1.285 million units expected by economists. It was the lowest pace for housing starts since the March 1993 rate of 1.083 million units.

Building permits fell 7.3 percent, the sharpest decline since January 1995, to an annual rate of 1.226 million.