Housing Starts Decline, Permits Rise in August
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- Published: Tuesday, 27 September 2011 10:46
- Written by Rock Products News
Nationwide housing starts declined 5.0 percent to a seasonally adjusted annual rate of 571,000 units in August, according to figures released by the U.S. Commerce Department. The decline was primarily on the more volatile multifamily side, with single-family housing production edging down just 1.4 percent. Meanwhile, permits for new construction posted modest gains in both sectors.
With the rickety, steel-trestle Brent Spence Bridge as a backdrop, President Obama told a September 22 gathering at Hilltop Concrete’s downtown Cincinnati plant, “We used to have the best infrastructure in the world. We’re the country that built the Intercontinental Railroad, Interstate Highway System, Hoover Dam [and] Grand Central Station.”