Housing starts sink to pandemic levels as builders worry about inflation

Housing starts plummeted to their lowest point since the pandemic began, signaling a significant slowdown in construction. Builders' confidence has waned due to escalating material and financing costs, raising concerns about the ongoing housing shortage. This downturn could undermine recent gains in many states' efforts to build sufficient new homes, potentially leading to more economic and social challenges in the long run. The situation underscores the broader impact of inflation on the housing market.