US home price plunge is ‘just beginning’ as housing market rapidly cools: economist
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US home price plunge is ‘just beginning’ as housing market rapidly cools: economist

ByNews Polite

A substantial plunge in US home prices is likely “just beginning” as decades-high mortgage rates cause a downturn in the housing market, a prominent economist cautioned Friday. The warning from Pantheon Macroeconomics chief economist Ian Shepherdson followed more dismal data that showed a slowdown in housing activity. Pending home sales…

Housing starts tumble more than expected in September
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Housing starts tumble more than expected in September

ByNews Polite

US homebuilding fell more than expected in September, led by a 13.1% decline in multi-unit projects, according to Census Bureau data released on Wednesday. Housing starts dropped 8.1% to a seasonally adjusted annual rate of 1.439 million units last month. Data for August was revised down to a rate of 1.566 million units from the previously reported 1.575 million units. Economists polled…