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
Both humps are dragging through the sands of time to reach their final destination, a pool of sand in the middle of this desert.
Profound.
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 ?
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.
Man, I can't write this morning!
My grammar stinks!
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
Neither do you. Mystery solved.
Whaaaaaaaaaaaat ????
Would be nice if we could use these construction companies to help rebuild our infrastructure and help get people back to work.
who needs a new house when there is so many old ones vacant?
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.