"Initial construction of U.S. homes fell to a 17-year low in March, a much steeper-than-expected drop, according to a government report released Wednesday.
Privately owned housing starts fell to a seasonally adjusted 947,000 annual rate in March, according to the Commerce Department. The rate was down 11.9% from February's revised reading of 1.07 million and 36% lower than March of 2007."
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New home construction declines in March to 17-year low
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