Housing starts probably slumped in July: US economy preview

Posted: Monday, Aug 18, 2008 at 0153 hrs IST
Updated: Monday, Aug 18, 2008 at 0153 hrs IST

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Job loss pain crosses boundaries, sectors All that Goldman Sachs outsiders don’t get

Aug 17: held at a record low in August for a second month, economists forecast a report on Monday will show.

Still, construction companies are making some headway in reducing the supply glut. The number of new homes for sale dropped in June by the most in four decades. Some firms are seeing an improvement. Toll Brothers Inc., the largest US luxury homebuilder, reported cancellations last quarter dropped to the lowest level in more than two years, and said buyers are starting to return to the market.

—Bloomberg...

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