Homemaker Looks Headed For More Pain

The S&P Homebuilders Select Industry Index did not have a good year. It’s down more than 31% year-to-date through November 9, and storm clouds on the horizon suggest things aren’t going to get any better for homebuilders anytime soon.

According to government figures released in late October, the slump in residential construction in the third quarter cut 1.37 percentage points from gross domestic product, the biggest decline since the Great Recession in late 2007.

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