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Fewer homes built
Source: Agencies |
January 20, 2011, Thursday
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UNITED States builders began work last year on the second-fewest number of homes in more than half a century, as the weak economy kept people from buying houses.
Builders broke ground on a total of 587,600 homes in 2010, just barely better than the 554,000 started in 2009. Those are the two worst years on records dating back to 1959.
And the pace is getting worse. The US Commerce Department yesterday said builders started work at a seasonally adjusted annual rate of 529,000 new homes and apartments last month. That's a drop of 4.3 percent from November and the slowest pace since October 2009.
In a healthy economy, home builders start about 1 million units a year.
Builders broke ground on a total of 587,600 homes in 2010, just barely better than the 554,000 started in 2009. Those are the two worst years on records dating back to 1959.
And the pace is getting worse. The US Commerce Department yesterday said builders started work at a seasonally adjusted annual rate of 529,000 new homes and apartments last month. That's a drop of 4.3 percent from November and the slowest pace since October 2009.
In a healthy economy, home builders start about 1 million units a year.
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