Construction of new homes fell in May as the nation's home builders were battered by the crisis in subprime lending and rising mortgage rates.Housing, which is struggling through its biggest downturn in 16 years, is expected to continue to face troubles in the months ahead before starting to stage a sustained rebound in 2008. The Commerce Department reported Tuesday that construction of new homes and apartments dropped by 2.1 percent last month to a seasonally adjusted annual rate of 1.474 million units, 24.2 percent below the level of a year ago. More...
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20 June 2007
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The construction industry is not doing as well as it used to. We all need to do our part to help the economy. forestry trucks
Posted by: digger derricks | 02 November 2009 at 02:58 PM