patrick.net

http://investmentwatchblog.com/we-are-recreating-the-markets-of-2007-homebuilder-sentiment-soars-to-9-year-high-mortgage-apps-14-year-low-housing-starts-tumble-14-4-in-august/

MarketWatch) — Construction started on new U.S. homes tumbled 14.4% in August, pulling back after a surge in July, signaling some shakiness in the housing market’s recovery, according to government data released Thursday. Led by drops throughout the country, the annual rate of housing starts fell to 956,000 last month from 1.12 million in July, which was the fastest pace since late 2007, the U.S. Commerce Department reported. Economists polled by MarketWatch had expected starts to cool down in August, hitting a rate of 1.03 million, compared with an original estimate of 1.09 million in July.

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