The National Association of Home Builders said it's monthly reading of builders sentiment sank to the lowest level since March, 2009.
The weak job market and an increasing number of foreclosed properties have prompted builders to limit construction. This will likely limit new housing starts to average less than 600,000 untis (annualized avg.) in the 2nd half of 2010. PVC pipe, siding, windows and fencing markets are unlikely to grow in the 2nd half of 2010 as a result US PVC producers will want to export PVC resin in larger quantities as well.
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