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Home Building Fell Sharply in July as Costs Increased


House development in the U.S. continued to gradual in July, as excessive inflation and higher mortgage rates make it dearer to construct and purchase property.

Housing begins in July fell 9.6% from the month earlier than to a seasonally adjusted annual price of 1.45 million, the Commerce Department stated Tuesday, down from a revised 1.6 million the prior month.

Source: www.wsj.com

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