Tuesday, November 20, 2012 1:28 pm
News Summary: US new home starts surge
By The Associated Press
BIG RECOVERY: The housing market has been making consistent gains this year, propping up an economy that's being squeezed by a global slowdown and looming spending cuts and tax increases.
MORE DEMAND: More people are looking for homes, after moving in with parents or friends because of the weak economy. Yet fewer homes are available. Mortgage rates have hit all-time lows. And rents are rising, making the purchase of a home more attractive.