Housing Starts Rise as Construction Underpins U.S. Economy
ByNew-home construction in the U.S. climbed in September, a sign residential real estate will bolster the world’s largest economy.
Housing starts increased 6.5 percent to a 1.21 million annualized rate, more than forecast and the second-highest level in eight years, figures from the Commerce Department showed Tuesday in Washington. A drop in building permits indicates the rebound will be slow to materialize.
American consumers, powered by an improving job market, are keeping the U.S. afloat as they continue to spend on big-ticket items such as homes and cars. A pickup in wage gains would give even more households the ability to save for a down payment, helping to sustain momentum in the housing industry…
Housing Starts Rise as Construction Underpins U.S. Economy
