Types Of Bankruptcy

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May 20th, 2007

Housing Slump Continued in April

“The drop in permits is one of the biggest on record. It suggests the contraction is housing is not over and has some months to play out”

Home building posted a small gain in April, but permits for future construction plunged by the largest amount in 17 years, a sign the nation’s housing industry is still in a deep slump.

Construction of new homes and apartments rose to a seasonally adjusted annual rate of 1.528 million units in April, an increase of 2.5 percent from the March level.

Even with the improvement, housing construction is 16.1 percent lower than a year ago, reflecting the amount of the slide since a five-year boom in housing ended last year. Read more



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