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Home construction sinks, building permits down

Home construction plunged last month and building permits also fell, the latest signs that the construction industry won’t fuel the economic recovery. Builders are scaling back now that government incentives have expired. The biggest evidence of that trend: single-family homes tumbled 17 percent, the largest monthly drop since January 1991. The struggle in the housing… Continue Reading Home construction sinks, building permits down

(A.P.) – Construction of new homes and apartments dipped slightly last month, missing expectations, in a sign that the building industry’s recovery from the housing bust is likely to be bumpy and gradual. The Commerce Department said Tuesday that new construction fell 1 percent in July to a seasonally adjusted annual rate of 581,000 units,… Continue Reading US home construction falls 1 percent, misses views

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