Builders Put Brakes On New Homes as Tax Credit Expires

By Alan J. Heavens
RISMEDIA, June 18, 2010—(MCT)—Residential-construction starts fell in May 2010 to their lowest level in a year, as an anticipated slowdown in sales after the expiration of the home buyers' tax credits took hold of the market. The Commerce Department reported recently that overall housing starts fell 10% from April, while building permits were down 5.9%. The biggest hit in starts came in the single-family sector—down 17.2% from April. continued...http://rismedia.com/2010-06-17/builders-put-brakes-on-new-homes-as-tax-credit-expires/