U.S. Home Starts Probably Rose in November

The results of a Bloomberg News poll of 79 economists suggest that the residential property market may be stabilizing heading into the new year. Housing starts rose 1.1 percent to a 10-month high of a 635,000 annual rate in November, according to the median estimate, although permits likely slipped to a 635,000 annual pace from a 19-month high in October. Bloomberg News expects construction of single-family homes to decline by about 11 percent from 2010 to a new low of about 419,100 this year, but work on multifamily units is projected to rise 45 percent. | Read More