New Housing Can't Compete with Short Sales and Foreclosures?

US housing construction plunges

WASHINGTON (AFP) – Construction of new homes in the United States plunged in February to near record lows and building permits hit bottom, official data showed Wednesday in a dismal report on the ailing housing market.

http://news.yahoo.com/s/afp/20110316/ts_alt_afp/useconomyconstructionhousing