Census: Single-family housing starts fall 39%

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Housing starts hit lowest level since January 1991
Single-family housing starts in July slipped to the lowest rate since January 1991, the U.S. Census Bureau and Department of Housing and Urban Development reported today. The seasonally adjusted annual rate of single-family starts was 641,000 in July, down about 39.2 percent compared to the same month last year. The rate of total starts, at 965,000, was down 29.6 percent year-over-year in July.