Builders slump as U.S. housing market shifts to the slow lane

THE S&P Supercomposite Homebuilding Index is down 21 percent year-to-date, on track for the biggest annual drop since 2008. / BLOOMBERG NEWS
THE S&P Supercomposite Homebuilding Index is down 21 percent year-to-date, on track for the biggest annual drop since 2008. / BLOOMBERG NEWS
NEW YORK - The housing market is stalling, and homebuilder stocks are feeling the pain. The S&P Supercomposite Homebuilding Index is down 21 percent year-to-date, on track for the biggest annual drop since 2008, when it fell 32 percent. That’s even with tax cuts, unemployment near the lowest since 1969 and a real-estate developer in the…

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