Construction Declines Signal Need for Policy Changes

As might have been expected considering the sixth consecutive drop in the National Association of Home Builders’ (NAHB’s) Housing Market Index released yesterday, residential builders pulled back in a big way last month. Both residential permitting and housing starts plummeted in June , although both so far are ahead of last year at the same date. The U.S. Census Bureau and the Department of Housing and Urban Development report that the seasonally adjusted annual rate

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