Housing slump may be near bottom
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The serious slump in the housing market and home building may be near a bottom, according to a leading U.S. home builder.
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Ongoing weakness in the housing market will push the national economy to the brink of recession, but growth in other areas should put the country back on a slow road to recovery by 2009, according to an economic forecast released Wednesday.
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Housing construction plunged to the lowest level in nearly a decade last month as the housing industry continued to struggle with a severe slowdown.
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Housing starts fell 3.7 percent in November, with construction of single-family homes sliding to the lowest level in more than 16 years as builders scrambled to cope with a deep drop in sales.
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Construction of single-family homes dropped to the lowest level in more than 16 years as a severe housing slump showed no signs of a turnaround.
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Sales of new U.S. homes fell in November to the lowest rate since 1995, but business activity perked up this month, according to reports on Friday that showed pockets of strength in the economy despite a housing sector meltdown.
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The Motley Fool - Unless you've spent the last six months battling day and night in World of Warcraft, you've probably noticed the minor economic jolt caused by the housing slump.
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WASHINGTON -- The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.
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WASHINGTON -- Sales of previously owned homes in the United States fell in May to the lowest level in almost four years, reinforcing concerns about a protracted housing slump.
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Housing construction fell in November, with single-family activity dropping to the lowest level in more than 16 years. Analysts said the recession in housing showed no signs of a turnaround.
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Price drops and declining sales in the Massachusetts housing market moderated in October, two housing reports showed yesterday, suggesting that the monthslong slump in the real estate market may be nearing its end.
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New figures suggest buying to let - a phenomenon of the housing boom - could be waning.
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A January decline of 16.6 percent suggests some weakness in the real estate market.
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The housing crisis and high oil prices may cause a slump, analysts warn.
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Business & money: Figures show sharpest fall for almost two years as trouble in the US housing market starts to spread and weigh down on consumer spending.
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Wall Street may be on the defensive   this week if reports on housing and growth suggest the United   States economy is headed for an acute slowdown.
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The predicted bottoming-out of the housing market appears, for now, to still be just a prediction.