Housing starts sink to pandemic levels as builders worry about inflation

Housing starts have plummeted to levels not seen since the pandemic began, according to the U.S. Census Bureau. Builder confidence is waning due to escalating material and financing costs, which could worsen housing shortages and hinder recent gains in building new homes. This downturn signals potential long-term implications for the housing market and broader economic recovery, as it may delay efforts to address the persistent housing demand.