Housing starts sink to pandemic levels as builders worry about inflation

Housing starts have plummeted to levels last seen during the pandemic, as builders express growing concerns about inflation. This downturn could worsen housing shortages and set back efforts to construct sufficient new homes in many states. With inflation impacting material costs and labor prices, developers are increasingly hesitant to start new projects, which could have long-term implications for housing availability and affordability. The situation underscores the challenges facing the housing market amid economic uncertainties.