patrick.net

http://finance.yahoo.com/news/april-housing-starts-plummet-almost-123735563.html

Reuters) - Ground-breaking for new U.S. homes plummeted more than expected in April from an almost five-year high, but applications to build new homes shows the housing sector could still contribute to the strengthening economic recovery. The Commerce Department said on Thursday that starts at building sites for homes fell 16.5 percent last month to a 853,000-unit annual rate. That was below analysts' expectations of a 945,000-unit rate. The housing recovery, driven by growing demand and record-low mortgage rates, has started to boost other sectors of the economy in the first part of the year.

#housing