U.S. Housing Starts Drop to Lowest Level Since June 2020
Mario Tama/Getty ImagesThe numbers: Construction of new U.S. homes fell 11.3% in August—falling short of Wall Street expectations—as builders scaled back new projects to focus on completions.The pace of construction reversed course and fell as mortgage rates stayed over 7%, dampening home-buying dem
What Happens to RE if the Government Shuts Down?
No two shutdowns are the same, but the feds would be less responsive. Some RE products – FHA, VA and Rural Housing loans, flood insurance – may see an immediate impact.
Aug. Housing Starts Drop 11.3% as Rates Rise
Multifamily starts took the hardest hit, falling 26.3%. Single-family starts fell 4.3% month-to-month, though they were up year-to-year by 2.4%.
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