Housing Starts at 17-Year Low

By Purchasing Staff -- Purchasing, 11/13/2008 7:00:00 AM

Housing starts in the U.S. sank 6.3% in September to a seasonally adjusted rate of 817,000, the lowest level in 17 years. Economists say further declines are expected in the fourth quarter. Building permits, an indicator of future activity, fell 8.3% to a 786,000 annual rate.

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