Another dismal housing report raises questions about whether the bottom has been reached in construction, even as mortgage rates retreat.

August housing starts plunged 6.2% to 895,000 units, the lowest level since January 1991, and permits fell 8.9% to 854,000, their lowest since February 1991. Single-family starts fell 1.9% and single-family permits fell 5.1%, confirming the poor outlook. 

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