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PCA: Housing Recovery Hinges on Inventory Correction

Published Friday, August 01, 2008

In its most recent Economic Research report, Portland Cement Association tracks housing start activity at 36 percent below 2007 levels, marking a third consecutive year of decline in a building segment representing in some years upward of 30 percent of net cement and concrete consumption. Weak economic conditions, tight credit conditions, and tepid sales are causing huge housing inventory overhangs that must be cleaned up before market segment recovery begins, the report notes. PCA projects an additional one percent housing start decline in 2009, followed by market segment recovery in 2010, excepting perhaps housing boom-centered Arizona, California, Florida ...

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