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dude wheres my house

U.s. Housing Starts Fell 2.1% In May To 1.474 Million Pace

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

June 19 (Bloomberg) -- Housing starts in the U.S. fell in May, signaling the slump in home construction will continue to depress growth.

Lower prices and more incentives have failed to spur interest as buyers wait for even bigger bargains, leaving builders with a glut of unsold properties. A jump in mortgage rates and stricter rules to qualify for a loan will probably reduce demand even more in coming months, economists said.

``There is way too much supply,'' Joshua Shapiro, chief economist at Maria Fiorini Ramirez Inc. in New York, said before the report. ``If you're a homebuilder with inventory, the market is skewed against you.''

``There is not a recovery that is about to happen.''

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

June 19 (Bloomberg) -- Housing starts in the U.S. fell in May, signaling the slump in home construction will continue to depress growth.

Lower prices and more incentives have failed to spur interest as buyers wait for even bigger bargains, leaving builders with a glut of unsold properties. A jump in mortgage rates and stricter rules to qualify for a loan will probably reduce demand even more in coming months, economists said.

``There is way too much supply,'' Joshua Shapiro, chief economist at Maria Fiorini Ramirez Inc. in New York, said before the report. ``If you're a homebuilder with inventory, the market is skewed against you.''

``There is not a recovery that is about to happen.''

Great Crash 2 is not going away anytime soon. Ben is correct to be deeply concerned about the magnitude of the crash and the collateral damage that will follow.

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http://biz.yahoo.com/ap/070619/economy.html?.v=10

US housing starts are 24% lower than last year !

Blood on carpet methinks!

Not acording to the Beeboids. Here's the Pravda version

Over at Fantasy Island, they wrap-up their typically unbiased business report with this upbeat opinion

Analyst Kurt Karl of Swiss Re said that the market seemed "to have bottomed out on the housing starts".

Looking ahead he said the housing market looked "neutral".

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