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Apr 19, 2019

Home building remains stuck in the mud

Last month's flooding did not help matters.

by Nancy Marshall-Genzer
Construction workers are seen outside a new house being built in Monterey Park, California on March 19, 2019. - The Los Angeles metro area is one of the worst areas in the country for first-time home buyers, according to a study released by Bankrate.com, which analyzed the 50 largest metropolitan areas in the country with Los Angeles finishing behind San Francisco as the worst for first-time home buyers. 
Construction workers are seen outside a new house being built in Monterey Park, California on March 19, 2019. - The Los Angeles metro area is one of the worst areas in the country for first-time home buyers, according to a study released by Bankrate.com, which analyzed the 50 largest metropolitan areas in the country with Los Angeles finishing behind San Francisco as the worst for first-time home buyers. 
FREDERIC J. BROWN/AFP/Getty Images

New government data shows home building fell to a nearly two-year low last month. Both building permits and housing starts were down. Midwest flooding last month is one likely factor, but this isn’t just a one-month blip.

 

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