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New home construction surges in September; recovery still elusive

from Los Angeles Times

New residential construction surged 15 percent in September, turning in its best performance in 17 months, though economists warned that a housing recovery has yet to take hold. While new construction is key to getting the economy going, much of the new building came from the apartment sector, which can be very volatile. Many economists also noted that permits pulled for new construction, also an important measure of builders' plans for the future, declined in September. more


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