June 18, 1980 (vol. 90, iss. 29) • Page Image 7
…The Michigan Daily-Wednesday, June 18, 1980-Page 7 New home starts off 11.5% last month WASHINGTON (AP)-The construction of new homes plummeted 11.5 per cent in May to the lowest annual rate since the depths of the last recession, while the personal income of Americans remained virtually stagnant. The Commerce Department said yesterday that housing starts plunged to a seasonally adjusted yearly level of 920,000 units, the lowest since Februa...…