Housing Starts Hit Ten Year Low While Builder Confidence Sets Even A Longer Record

Residential building permits and housing starts continued to fall in July with the latter measure of the nation's economic health dropping more than at any time since January 1997.

NAHB Chief Economist David Seiders cited the subprime mortgage situation as being a part of the problem but said, "... the government-related parts of the mortgage market still are functioning well and..."

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