U.S. housing starts tumble from nine-year high

U.S. housing starts tumble from nine-year high

The Commerce Department recently released a report that revealed mixed results concerning statistics in November on the housing market. They stated, “that groundbreaking on new housing projects dropped 18.7 percent to a seasonally adjusted annual rate of 1.09 million units.” They also reported that housing starts slipped to a 1.23 million-unit rate in November from October’s 1.32 million rate. There are many consequences to this expansive data including that of how the dollar is reacting, the affect on GDP, and U.S. Treasury debt prices.

 

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