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Saturday, August 23, 2014

Statement from LIA Chief Economist on Housing Starts

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Statement from LIA Chief Economist on Housing Starts

"The Commerce Department reported today that housing starts increased in March from February, but fell below expectations and were less than March 2013 starts as well.  This is an early sign that sluggish housing starts may reflect more than simply severe winter weather.  Rising home prices and mortgage rates, as well as higher prices for building materials and a shortage of skilled labor and building lots have all been cited as contributing factors," said John Rizzo, LIA Chief Economist.

John is available for further discussion/questions at his cell phone (631) 741-8539 and via email rizzologic@gmail.com