Housing Debacle

“I suspect that we are coming to the end of the housing downturn, as applications for new mortgages, the most important series, have flattened out. I think that the worse of this may well be over.” - Alan Greenspan, October 1, 2006

Monday, December 8, 2008

Florida Builders Nearly Idle in 3rd Quarter

Home building ground to a near-halt in Palm Beach County and the Treasure Coast in the third quarter, a period when housing starts fell to their lowest level in at least a decade - and perhaps much longer. With the region's housing market glutted with homes for sale, builders have cut production by 90% compared with a few years ago, according to housing research firm Metrostudy. The handful of housing starts marks the slowest pace of construction on Metrostudy's records, which go back to the 1990s.


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