Housing starts fall 5.8%, disappointing analyst estimates

Housing starts recovered sharply from a disappointing July report, exceeding even the high end of analysts’ estimates. The level of new permits issues, however, was disappointing. For the first eight months of the year, total starts are up 6.9% on a non-seasonally adjusted basis and single-family starts are up 6.3%.

WASHINGTON (MarketWatch) – Construction on new U.S. homes tumbled in June to the slowest pace in nine months, missing analysts’ estimates and adding to worries about the housing market’s.

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The key spring selling season got off to a disappointing start in March, with housing starts dropping 5.8 percent on the month. The decline in starts was largely concentrated in the volatile multifamily component. Multifamily starts fell 16.9 percent on the month, but the decline is likely due to payback.

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VeriFone Systems Inc. lost 43 percent after the maker of credit-card terminals forecast second-quarter profit that missed analysts’ estimates because of weak. the lowest reading since June, from.

The commerce department reported that housing starts fell 5.8% to an annual rate of 654,000 last month. In a healthy economy, housing starts should average 1.5 million or more each year, analysts.

Housing starts were down 3.3 percent compared to February last year. "We saw broad-based weakness across the country with the biggest declines in the Northeast and Midwest, suggesting that harsh winter weather in these regions slowed new residential construction significantly," said Derek Lindsey, an analyst at BNP Paribas in New York.

The United States subprime mortgage crisis was a nationwide financial crisis, occurring.. As housing prices fell, global investor demand for mortgage-related securities.. In 2008, another source found estimates by some analysts that Fannie's.. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP.

The housing data didn’t seem to help stocks too much on Wednesday, as earnings were mixed and energy shares stumbled. Caterpillar Inc (NYSE: CAT) beat third-party analysts’ estimates on earnings..