US Housing Starts Fall Sharply
US single family housing starts fell sharply in September and permits hit a multiyear low as higher mortgage rates suppressed demand. The decline points to a renewed drop in residential investment during the third quarter amid an affordability crisis.
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United States single-family homebuilding fell 4.6% to an annual rate of 859,000 units in September, while building permits hit a 3-1/2-year low.
