Home Construction Largest Drop in 27 Years

Construction of New Homes Falls 24.8 Percent in 2007, the Largest Amount in 27 Years
WASHINGTON (AP) -- The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go. Full Article
From the article: Many economists believe that the current slump in housing will rival the dive in the late 1970s and early 1980s when housing construction fell for four straight years before beginning to recover after the severe 1981-82 recession. For December, construction fell by a bigger-than-expected 14.2 percent.
WSJ: Housing Starts at Lowest Level Since 1991. Full Article