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Housing Woes Continue; New Construction Drops 5%

Builders broke ground on fewer homes in August, a reminder that the housing market remains depressed.

The Commerce Department said Tuesday that builders began work on a seasonally adjusted 571,000 homes last month, a 5 percent decline from July. That’s less than half the 1.2 million that economists say is consistent with healthy housing markets.

Read more at cbsnews.com