Housing still hot

The housing market is still hot. New-home construction continued at a vigorous pace in July, according to the U.S. Commerce Department. Housing starts dipped 0.1 percent for the month to a seasonally adjusted annual rate of 2.042 million units following upward revisions to the May and June rates. The pace of starts in July was 2.8 percent above a year ago and remained above 2 million units for the fourth month in a row. Single-family home construction edged up 0.5 percent to a pace of 1.711 million units for the month. This was 3.0 percent above the pace of a year ago. A year ago, many economists predicted a downturn for housing in 2005. They were dead wrong. Your comment?