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Forex News: Housing Starts and Building Permits better than expected but due to new construction codes

Posted by Greg Michalowski on Thu, 07/17/2008 - 7:33am in

Housing Starts

The Housing Starts were better than expected. However, reports are that new NY City construction codes increased the values. The report is that ex NYC the starts would have been down 4% versus up 9%.

The Housing starts rose to 1,066,000 versus 960,000 expected, and Permits rose to 1,091,000 versus 965,000 expected.