August 16th, 2011
09:41 AM ET

New home construction slumps in July

New home construction slumped in July, according to two key measures released by the government Tuesday.

Permits to build new homes fell 3.2% during the month to an annual rate of 597,000 units. The number of new homes being built fell 1.5% to an annual rate of 604,000 units, the Commerce Department said.

FULL CNNMONEY.COM STORY
soundoff (11 Responses)
  1. Two Slumped Camel

    Both humps are dragging through the sands of time to reach their final destination, a pool of sand in the middle of this desert.

    August 16, 2011 at 10:00 am | Report abuse | Reply
  2. banasy©

    Profound.

    August 16, 2011 at 11:32 am | Report abuse | Reply
  3. bobcat2u

    The housing industry is still depressed. But my question is, why in the world would you continue to build new houses when there are not enough people working to be able to buy said houses ? Am I rambling this morning, or is it just me ?

    August 16, 2011 at 11:51 am | Report abuse | Reply
  4. banasy©

    No, you're not rambling, bobcat2u.
    I often wonder the same thing.
    We have so much new construction houses sitting empty, and they're building more!
    Makes no sense at all.

    August 16, 2011 at 12:29 pm | Report abuse | Reply
  5. banasy©

    Man, I can't write this morning!
    My grammar stinks!

    August 16, 2011 at 12:32 pm | Report abuse | Reply
    • bobcat2u

      That's okay. I can read what your saying just fine. Myself, I can't seem to get my brain in gear today. Must be old age setting in. LOL

      August 16, 2011 at 12:46 pm | Report abuse |
  6. Who wants a used first home?

    Neither do you. Mystery solved.

    August 16, 2011 at 12:59 pm | Report abuse | Reply
    • bobcat2u

      Whaaaaaaaaaaaat ????

      August 16, 2011 at 1:03 pm | Report abuse |
  7. Mad Hatter

    Would be nice if we could use these construction companies to help rebuild our infrastructure and help get people back to work.

    August 16, 2011 at 2:08 pm | Report abuse | Reply
  8. RUFFNUTT

    who needs a new house when there is so many old ones vacant?

    August 16, 2011 at 2:10 pm | Report abuse | Reply
  9. Therese

    Bobcat2u has a point. How will you be able to fund these new houses for sale if the buyers are actually unemployed? I hope the government finds a solution to employment problems.

    January 6, 2012 at 2:59 am | Report abuse | Reply

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