Continuing an uninterrupted free-fall, U.S. housing starts and permits fell for a seventh consecutive month in January, according to U.S. Commerce Department figures. New-home production fell by 16.8 percent to a seasonally adjusted annual rate of 466,000 units, while permits for new housing construction fell 4.8 percent to a rate of 521,000 units. Both of these numbers were new record lows.
“Builders are continuing to exercise extreme caution in response to market conditions, particu
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