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    , just not as large as today's report indicated.

    Building permits fell drastically in July, by 6.5

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    The building of new homes has fallen to the lowest level in nearly two years, according to the Commerce Department on Wednesday.

    Housing starts fell 2.5% for July to 1.8 million on a seasonally adjusted annual basis. This marks the fifth decline in housing starts in the last six months. It is also the lowest level seen in construction of new homes since November 2004.

    Economists had expected a decline, just not as large as today's report indicated.

    Building permits fell drastically in July, by 6.5

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    Department on Wednesday.

    Housing starts fell 2.5% for July to 1.8 million on a seasonally adjusted annual basis. This marks the fifth decline in housing starts in the last six months. It is also the lowest level seen in construction of new homes since November 2004.

    Economists had expected a decline, just not as large as today's report indicated.

    Building permits fell drastically in July, by 6.5

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    “That the power to tax involves the power to destroy … [is] not to be denied”Chief Justice John Marshall (McCulloch v. Maryland. 1819) annual basis. This marks the fifth decline in housing starts in the last six months. It is also the lowest level seen in construction of new homes since November 2004.

    Economists had expected a decline, just not as large as today's report indicated.

    Building permits fell drastically in July, by 6.5

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    est level seen in construction of new homes since November 2004.

    Economists had expected a decline, just not as large as today's report indicated.

    Building permits fell drastically in July, by 6.5

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    , just not as large as today's report indicated.

    Building permits fell drastically in July, by 6.5% to 1.75 million units. This is the largest drop seen since September of 1999. Building permits are an indication of future construction activity. Permits are at the lowest level since August 2002.

    The Commerce Department also revised June's housing starts downwards, to an annualized rate of 1.84 million, down from 1.85 million.

    When compared to one year ago, housing starts are down 13.3% for July.

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