Commentary

Housing market is barely breathing

12.16.08- The housing market is barely breathing. According to Marketwatch.com, housing starts plunged 47% in the past year, down 73% from the housing bubble’s frothiest days. And building permits plummeted 48% in the past year, off 72% from the peak of real estate lunacy. There’s still a glut of unsold McMansions, and foreclosures are rising. It’s going to be a long winter.

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