Housing starts held down by rising interest rates, higher construction costs

Econ & Housing, The Daily Buzz

istock.com/Luckie8 WASHINGTON — Rising interest rates and ongoing building material supply chain disruptions that raise construction costs continue to act as significant headwinds against housing starts, according to the National Association of Home Builders. Overall housing starts fell 14.4% to a seasonally adjusted annual rate of 1.55 million units in May from an upwardly revised…

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