US housing starts hit 1-year low
Homebuilding and sales are well below their peaks before the housing bubble burst in 2006, raising concerns that the property market recovery is stalling
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Washington
US homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the south, suggesting housing probably remained a drag on economic growth in the third quarter.
The report on Wednesday from the Commerce Department also showed a decline in building permits, raising concerns that the housing market recovery is stalling. Homebuilding and sales are well below their peaks before the housing bubble burst in 2006.
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