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Housing slump may herald industry's worst recession
The housing sector faces a deep recession with high mortgage rates and energy shortages. Builders slash starts, unemployment climbs, and fuel constraints threaten materials and heating costs. Industry leaders warn the decline could be severe, with a hoped pickup later in the year unlikely to fully avert a downturn.
MENTIONED IN THIS ARTICLE
TERRY P_ BROWN
Chicago
Djons
Althoush
Michael Sumichrast
National Association of Home Builders
Savings
Kenneth J. Thygerson
U.S. League of Savings Associations
Gerhard R. Andlinger
Levitt & Sons Inc