Housing Starts Decline In June

Housing starts in June cooled from the torrid levels posted earlier this year, according to figures released by the U.S. Commerce Department. Overall, the June construction rate was just above 1.8 million units, down 8.5 percent from May’s upwardly revised rate of 1.97 million.

“A 2 million starts rate is not sustainable, but something on the order of 1.8 million or 1.9 million is,” said Bobby Rayburn, a home and apartment builder from Jackson, Miss., and president of the National Ass

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