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>The economy is getting better eyyyyyy--you fucking >liar.... > > >Construction of new homes plummeted in April > ShareretweetEmailPrint AP – In this photo taken April >18, 2011 in Springfield, Ill., construction worker >Mike Hopkins begins work … > >WASHINGTON – Construction of new homes plummeted in >April, dragged down by a major drop in apartment >building. > >Builders broke ground on 10.6 percent fewer new homes >last month. The seasonally adjusted rate fell to >523,000 homes per year, the Commerce Department said >Tuesday. That's less than half the 1.2 million homes >per year that economists consider a sign of a healthy >market. > >The weak construction data show how builders are >struggling to compete with millions of foreclosures, >which are forcing down prices for previously occupied >homes. The median price of a new home was about 34 >percent higher in March than the median price for a >re-sale. That's more than twice the markup in healthy >housing markets. > >In some cities, prices are half of what they were >before the housing market collapsed in 2006 and 2007. >Many potential buyers who could qualify for loans are >worried that prices will fall further. Others are >hesitant to put their own homes on the market when >prices are dropping.

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