🚨 BREAKING: U.S. faces severe housing crisis as housing starts drop 6.8% in July, hitting lowest levels since COVID lockdowns. Single-family home starts hit a worrying 982K, a figure not seen since Oct '23, as multi-family starts plummet 13.7%. Single-family permits have fallen for the sixth consecutive month. Will expected rate cuts be sufficient to turn the tide, or is the market heading for more trouble? Stay tuned for updates.