Low rate in home construction.

[flippinout]

The building of new homes and apartments has dropped to the lowest it has been since 1991. And with home building isnt expected to see an increase any time soon.

In the Northeast construction fell by a little over 20% while in the Midwest, single family home building has actually increased by five and a half percent. In the West, new home building is still down.

The weak housing market has been bad on construction, and on banks that have seen losses in the billions of dollars because of foreclosures.

The fear right now is that this downturn may be here to stay for a while.

[JaredfromIndiana]

My step dad used to own a new home construction business. In 2005 they built 62 houses. In 2007... 13. Closed their doors in 2008 after doing less than 5 I believe.