Posted 11/19/2009, 10:01AM, by Rochelle Simpson

WASHINGTON — The budding economic recovery isn’t getting much help from the home-building industry, which normally creates jobs and drives growth when a recession ends.

Uncertainty over whether a homebuyer tax credit would be extended weighed down construction last month — a sign of how much the fledgling recovery depends on government support.

Home building unexpectedly plunged to its lowest point since April, the Commerce Department said Wednesday. The figures show that builders fear there aren’t enough buyers to soak up the glut of unsold homes already on the market — a supply magnified by record-high foreclosures.

For the complete story, see today’s business section of The Daily Journal.

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