The battered housing market got another vote of no-confidence from builders last month as applications for new projects tumbled to the lowest since 1997, even as housing starts themselves edged higher.
The numbers confirm other recent reports from home builders and real estate groups of a housing market that is still searching for a bottom and that is likely to get weaker before it picks up.
Housing starts rose to an annual rate of 1.53 million in April, according to the Census Bureau report, from the revised 1.49 million pace in March. Economists surveyed by Briefing.com had forecast a slip to a 1.48 million pace in April.
But building permits, which are often seen as a measure of builder's confidence in the market, sank to an annual rate of 1.43 million in April from a revised 1.57 million in March. It was the lowest reading since June 1997. Economists had forecast a dip to 1.52 million.

The mix of sudden shifts and long time frames associated with real estate can turn the best laid plans into "if only I'd" regrets. On the other hand, successful strategies incorporate flexibility into decision making because results matter every time.

With an industry database showing a 30 percent increase in loans involving suspected mortgage fraud in 2006, the Mortgage Banker's Association is asking Congress to set aside $31.25 million over five years to hire more FBI investigators and prosecutors.
In its annual mortgage fraud report, the Mortgage Asset Research Institute (MARI) said the sharp increase in mortgage fraud is partially because lenders are finding more cases of fraud in loans originated in 2006. But the slowdown in the housing market has also helped reveal fraud cases previously masked by strong price appreciation.
After a loan is approved, it's unlikely to be reported as fraudulent as long as borrowers continue making payments. But a slowdown in home-price appreciation has fueled delinquencies and defaults nationwide, as borrowers find themselves unable to refinance loans with balances that approach or exceed the value of their homes.

Thirty per cent of single, never-before-married women own their own home in Canada, according to a new survey by Royal LePage. Sixty-four per cent of divorced or separated women are homeowners, and 64 per cent of widowed women own their own houses.
"There has been a shift in mindset whereby women have distanced themselves from the traditional notion that you must first find Mr. Right and then together you buy a home," says Lisa da Rocha, a vice-president with Royal LePage. "Our findings reveal that 66 per cent of women who intend to purchase would not find the process of buying a home on their own intimidating."