Many, many construction workers will be looking for new careers because the big news of the morning is the big drop in new construction. Via the AP: "The Commerce Department reported Friday that construction of new homes and apartments dropped by 6.3 percent last month, a much bigger decline than the 1.6 percent decrease that had been expected...The building industry is on pace to construct the fewest new homes and apartments this year since the end of World War II." But again, this may be a good thing. According to an economists note, the "faster new construction comes down the faster the glut of unsold homes gets cleared," reports the Wall Street Journal. For more stories from Curbed LA, go to la.curbed.com.
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