Is the Housing Recovery Theme Getting Demolished?

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For the third consecutive month, housing starts in the U.S. came in weaker than expected this past week, providing a clear warning that the housing recovery is still on shaky ground.

Builders broke ground on houses at a seasonally adjusted annual rate of 836,000 units in June, representing a 9.9 percent decline from the upwardly revised May estimate of 928,000 units, according to the U.S. Department of Commerce. It was the lowest rate since August 2012, and the second largest sequential drop since 2011.

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