# Housing threatens U.S. recovery



## Stormy_Ny (Jun 13, 2009)

*Housing threatens U.S. recovery*


By ALAN ZIBEL
AP Business Writer


Published: Thursday, January 21, 2010 at 1:00 a.m. 
Last Modified: Wednesday, January 20, 2010 at 7:14 p.m. 
( page of 3 )
_WASHINGTON_ - The housing market remains a significant risk to the economy, data showed Wednesday, as bad weather across much of the country hammered the construction industry.

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Along with icy storms, the real estate recovery is facing man-made problems. On Wednesday, the government said buyers will face higher fees and tougher standards for home loans backed by the Federal Housing Administration, a popular source of loans for first-time buyers.
Unemployment is expected to remain high throughout the year, which will drive the foreclosure rate to new records.
"If we don't get some jobs, it's not going to make a difference," said Rick Jenkins, owner of R.J. Builders in Terre Haute, Ind.
Construction of new homes and apartments fell 4 percent in December to a seasonally adjusted annual rate of 557,000 from an upwardly revised 580,000 in November, the Commerce Department said. Applications for future projects, however, increased strongly as the industry ramps up for the spring selling season.
On Wall Street Wednesday, investors focused on disappointing earnings from IBM and Morgan Stanley and tighter lending rules in China. If that country's huge economy slows, it could hurt demand for U.S. exports. The Dow Jones industrial average was down 122 points from a 15-month high, its biggest drop in a month.
The results for new U.S. home construction were lower than the 580,000 forecast by economists surveyed by Thomson Reuters and were led by declines of 19 percent in the Northeast and Midwest. Construction fell 1 percent in the West, but rose more than 3 percent in the South.


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## [email protected] (Dec 23, 2008)

The numbers were in yesterday for '08. KC area new starts lowest since tracking began in '78. Down 33% from '07.


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## muddermankc (Apr 6, 2009)

*partners*

Hey whats up darrin, our city is screwed. Up north is still pluggin on but lees summit,bluesprings,raymore besides creekmore, everythings slooowwwwwwwwwwwwwwwwww terrible


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## [email protected] (Dec 23, 2008)

Even Creekmoor, pretty much just C&M, maybe two or three others. WBS can have ole Chad, they deserve each other. Up North, yeah, was better, but they ain't setting the world on fire by any means. But some moron is putting in 600+ lots up there. Either a really brave or very stupid banker to go along with it.

Mudderman, did you get paid okay on GV?


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## muddermankc (Apr 6, 2009)

*kansas city*

you wouldnt believe what i ended up goin through on that deal in grain valley. No were going to court, big mess.My lawyer represents 3 other trades on that project to,2009 was by far the worst year ive had. 2010s gotta be better


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## [email protected] (Dec 23, 2008)

I hate to hear that, though not too surprised. I bid S&T's work back around '04. I got that gut feeling then that they were into sub contractor sodomy. Good luck in court.


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