UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

August 18, 2009

SURPRISE DIP IN HOME CONSTRUCTION

BBC - Construction of new US homes posted a surprise fall in July, ending three straight months of increases, Commerce Department figures have shown. Suggesting the housing market recovery remains weak, the number of new properties built last month fell 1% to an annual rate of 581,000 properties. Separate official figures showed that US wholesale prices recorded an unexpectedly large fall last month. Prices declined 0.9% from June, and by 6.8% when compared with July last year.

1 Comments:

Anonymous Portable Storage said...

Thanks for the information but i don’t think so that the home construction has fallen by any percentage.At least the market for new homes isn’t getting worse anymore, and that’s the first step to getting better.
Construction of single-family homes rose in July for the fifth straight month, edging up almost 2 percent to the highest level since October, the government said Tuesday. Building permits climbed nearly 6 percent.
Each new home built creates about three jobs on average and generates about $90,000 in taxes paid to local and federal authorities, according to the National Association of Home Builders.
With new construction up 37 percent from its low point this winter, the industry is expected to help the overall economy this quarter for the first time in 31/2 years.

Thanks,
Portable Storage,
http://www.moveablecubicle.com

August 20, 2009 6:07 PM  

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