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Tuesday, October 19, 2010

Home starts rises slightly, building permits fall

Housing starts are up 28 percent from their bottom in April 2009. Still, they are down 73 percent from their peak in January 2006 and 40 percent below the 1 million annual rate that analysts say is consistent with healthy housing markets.
The industry is "showing signs of stabilization and perhaps even a faint pulse," wrote Joshua Shapiro, chief U.S. economist at MFR Inc. in New York.
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