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Homebuilding, permits see steepest drop in 27 years!

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posted on Jan, 17 2008 @ 08:00 PM
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Homebuilding, permits see steepest drop in 27 years!


money.ccn.com

NEW YORK (CNNMoney.com) -- Housing starts and building permits plunged in December much more than expected, resulting in a full-year decline in new home construction that was the sharpest drop in 27 years.

And there is little sign things will get better soon. According to government data released Thursday, the full-year total for building permits posted the biggest drop in 33 years. The sharp dropoff in building is one of the reasons that many leading economists are growing increasingly fearful that an economic recession is near, if it hasn't already struck.

(visit the link for the full news article)




posted on Jan, 17 2008 @ 08:00 PM
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Well, is there ANYONE who still doubts that we are headed for a recession if we are not already in one? I'm glad I'm not in the housing industry! But this will ripple down to literally everyone...

money.ccn.com
(visit the link for the full news article)



posted on Jan, 18 2008 @ 09:59 AM
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I'm suprised this isn't recieving more comments. This is a MASSIVE dip. I wonder how far this is going to ripple out into this recession?



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