Housing starts were bad in September, but just wait until October’s data is released

October 17th, 2008

Housing starts dropped 6.3% in September to a seasonally adjusted annual rate of 817,000 -- the second lowest level of all time just behind the rate in September 1991, the Commerce Department said today.

October could be the record-breaking month because that's when the Wall Street meltdown really got going. Expect the October report to show a severe drop in home starts.