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Housing Slump Persists as Permits Hit Record Lows
February housing starts fell 19 percent from January and 50 percent from a year earlier while building permits dropped to a record low signaling no recovery before summer. Fed loan rates slipped, banks cut prime rates, and debates on tax cuts energy bills continued in Congress as unemployment stood at 8.2 percent.
MENTIONED IN THIS ARTICLE
Commerce Department
New York
Michael Sumichrast
National Association of Home Builders
Federal Home Loan Board