Housing starts probably rose in May, extending a rebound that is helping shore up the U.S. expansion, economists said before a report today. Builders broke ground on 950,000 houses at an annualized rate, up 11.4 percent from April’s 853,000 pace, according to the median estimate of 82 economists surveyed by Bloomberg. Another report may show the cost of living increased in May for the first time in three months. Historically low mortgage rates, improvement in the labor market and pent-up demand are spurring optimism among builders such as Hovnanian Enterprises Inc. (HOV) The recovery in residential real estate shows ... (full story)