Sunday, October 19, 2008

Home construction falls sharply in Sept.

"Construction of new homes plunged by a bigger-than-expected amount in September as builders slashed production to the slowest pace since early 1991, when the country was in a deep recession.

A barometer of future building also dropped to the weakest level in more than 25 years.

The building industry is on pace to construct the fewest new homes and apartments this year since the end of World War II."

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Home construction falls sharply in Sept.

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