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Housing Starts Hit 17-Year Low

March starts plummet 11.9% as foreclosures create glut on market

By Jim O'Neill, Newser User

Posted Apr 16, 2008 8:45 AM CDT

(Newser) – Foreclosures and a glut of unsold homes flooding the market were blamed for an 11.9% drop in new housing starts last month, more than twice the slide economists had predicted, reports Bloomberg. Starts are at the lowest level since March 1991, according to the... Read full story »

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Housing Starts Hit 17-Year Low

March starts plummet 11.9% as foreclosures create glut on market

housing market • construction • Department of Commerce • new construction • subprime crisis • new housing starts • foreclosures

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More Newser Stories

Mortgage Meltdown Hits Small Builders

Wave of bankruptcies could in turn weaken regional banks

Goldman Seizes Homes as Securities Sour

Just getting them to admit they hold your mortgage can be an ordeal

Watchdog: Feds Need to Expand Foreclosure Plan

$50B plan proving ineffective as more mortgage holders lose their jobs

Foreclosure Crisis Wallops Minority Neighborhoods

Lenders accused of 'redlining' black neighborhoods for subprime loans

Targeted in Bubble, Latinos Now Face Foreclosure Flood

Push to get subprime, other risky mortgages to Hispanic community backfires

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