U.S. housing starts plunge to two-year low in December

WASHINGTON — Housing starts in the U.S. declined by 11.2% in December to a rate of 1.08 million, according to the Commerce Department, the lowest since September 2016. The drop affected both single-family dwellings and apartment buildings. In the past 12 months, housing starts have fallen a total of 10.2%. Meanwhile, building permits edged up 0.3 per cent in December, with single-family permits down 2.2% from November and 5.5% from the previous year.