New Housing Starts Drop Sharply As Building Permits Fall To Record Low

Housing starts fell sharply in February, dropping the most in a single month since 1984, the U.S. Census Bureau reports. The 23% retreat left starts at an annualized rate of 479,000 in February, or just above the previous low for this cycle—477,000 in April 2009. It’s unclear if starts are headed for new lows, but [...]