Home construction plunges 10.6 percent in October

Wednesday November 18, 2009 09:03 AM

Construction of new homes unexpectedly plunged last month, as builders waited to see whether lawmakers would extend a tax credit for homebuyers. The results underscore how much the housing market has been relying on government support for its fledgling recovery. The tax credit of up to $8,000 for first-time owners was due to expire on Nov. 30, but Congress voted to extend it …

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