Housing outlook remains "bleak" despite tax credit

03/17/2010 | NYTimes.com

Snowstorms in some of the biggest markets and disappointing demand slowed housing starts 5.9% in February, according to a Commerce Department report released Tuesday. The slower demand comes despite an $8,000 tax incentive from the federal government. "Home building activity remains very low by historical standards and is set to remain that way for some time," Paul Dales, an economist for Capital Economics, wrote in a research note.

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