Housing starts and building permits in the US dropped sharply in August, with housing starts falling 8.5% month-over-month to 1.31 million and building permits down 3.7%. Single-family starts declined 7%, and permits fell 2.2%. Despite a lower 30-year mortgage rate of 6.35%, the housing market struggles amid rising unsold homes and a weakening job market, with only 22,000 jobs added and unemployment rising to 4.3%.
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