Industry NewsMarkets & Economy

Home construction spending falls 53% from peak

Spending on residential, commercial projects drops 5% in '08
Published on Feb 2, 2009

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by CareyBot

Spending on residential construction dropped 27.2 percent in 2008 to $358.4 billion, the U.S. Census Bureau reported today, and was down 52.8 percent from a record peak of $676.4 billion in March 2006. The monthly rate of spending on private ...