Housing Starts Plummet in December and All of 2007
Housing starts plunged 14.2% in December to an annual
rate of $1.006 million units, the Commerce Department said.
In addition, construction of new homes sank 24.8% in all of
2007, the second biggest decline on record following a 26%
drop in 1980. Some economists believe the housing crisis
will push the country into a recession as consumers are
pressured by the steep drop in housing activity - which has
pushed home values down in many parts of the country.
Consumers also have been faced with rising mortgage defaults
and a severe credit crunch which has made loans harder to
obtain. In December, housing construction fell by 30.8% in
the Midwest, 25.8 percent in the Northeast, 19.6 percent in
the West and a smaller 3.3% in the South, the government
reported. And, to make matters worse, building permits (a
harbinger of future housing activity) fell 8.1% in December.
It was the seventh consecutive monthly decline and indicates
that builders have been cutting production plans due to the
glut of unsold homes.
Return to:
Factoring, Credit and
Economy News
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
with Freight Bill Factoring from Charter Capital. We purchase your freight bills
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing company with unlimited payroll funding ,
whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
to gain your share with a FactorLine facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding service, enabling you to increase your cash flow without the need
for bank loans. We are always adding new industries and will consider factoring
service providers in any industry.
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