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Housing Starts in U.S. Probably Fell From Almost Five-Year High
Housing starts in the U.S. probably fell in April from an almost five-year high, indicating a pause in the industry’s progress as builders slowed work on apartment buildings, economists said before a report today. Beginning construction of new homes dropped to a 970,000 annual rate after jumping in March to a 1.04 million pace, the fastest since June 2008, according to the median estimate of 81 economists surveyed by Bloomberg. Other figures today may show cheaper gasoline helped keep the cost of living in check. Near record-low mortgage rates and improving job opportunities are drawing buyers into a market that ... (full story)