The Commerce Department has announced that home builders
broke ground in July at their fastest pace since 1986. The report showed that housing starts rose 1.5 percent in July to a seasonally adjusted 1.872 million annual
rate. Starts of single-family homes, at a 1.521 million annual rate, were the highest since November 1978.
The report did include one cautionary sign. Permits for new homes -- an indicator of future building -- dipped 2.4 percent to 1.780 million annual pace.