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U.S. Home Starts Drop More Than Forecast on Multifamily Slump

By Implode-Explode Heavy Industries

"Housing starts fell to a 519,000 annual rate, the fewest since a record low reached in April 2009 and down 12 percent from a revised 588,000 in September that was less than previously estimated, Commerce Department figures showed today in Washington. Work on multifamily units, which is often volatile, plunged 44 percent, swamping a 1.1 percent drop in single-family homes."

Full post as published by Mortgage Lender Implode-o-Meter on November 17, 2010 (boomark / email).