U.S. housing starts fall to one-year low

WASHINGTON — The impact of Hurricanes Harvey and Irma was felt by housing construction in the U.S., with the seasonal rate of new builds in September declining by 4.7% to 1.127 million units according to the U.S. Commerce Department. The third consecutive monthly decrease, it brought housing starts to their lowest rate since September of last year. Building permits also fell 4.5% to 1.215 million. The southern states, including storm-afflicted Texas and Florida, account for about half of U.S. homebuilding activity.