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        Sales Of New Homes Hits Record Low, 2008 Worst Year In Two Decades | The Study of Economics

        HOMESTEAD, FL - JANUARY 30: Empty house lots are seen next to newly constructed homes in a subdivision on January 30, 2009 in Homestead, Florida. Prices in November of 2008 declined 8.7 percent from a year earlier, the biggest drop in records going back to 1991, the Federal Housing Finance Agency reported. Housing starts fell 16 percent in December of 2008 to an annual rate of 550,000, the lowest since the government started compiling statistics in 1959, the Commerce Department has reported. (Photo by Joe Raedle/Getty Images)

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