Credit Tightening Weighing on Builder Confidence In August:

August 15, 2007 - Highly visible problems in the housing finance system are contributing to a wait-and-see attitude among prospective home buyers and reducing builder confidence in the single-family housing market, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI declined two points to 22 in August, its lowest level since January 1991.......read more here.

Housing Starts Continue Downward In July:

August 16, 2007 - Providing further evidence that the downward correction in the housing market continues, Commerce Department data released today for July indicates that home builders started work on new housing units that month at the slowest pace since January 1997. The government report indicated that total housing starts declined 6.1 percent to a seasonally adjusted annual rate of 1.38 million units in July........read more here

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