Builders are struggling to compete with waves of foreclosures that have forced down prices for previously occupied homes. The weakness is weighing on the economy: Though new homes represent a small portion of overall sales, they have an outsized effect on jobs.
The Commerce Department said Tuesday that new-home construction plummeted in April to a seasonally adjusted rate of 523,000 homes per year. A major drop in volatile apartment building pulled down the monthly figures. And strong tornadoes and flooding also disrupted construction projects throughout the South.
Still, through the first four months of this year, the pace of new-home construction is barely ahead of 2009's — the worst year on records dating back a half-century.
The disappointing construction data contributed to a sell-off on Wall Street. The Dow Jones industrial average fell more than 110 points in mid-day trading.
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For a better base of house the pillar of the house should be strong and also the outer walls should be from 10" to 20". This structure will make a super strong house.
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