New housing permits drop sharply, sparks bubble talk

According to CNNMoney, "housing starts took their biggest tumble in almost 11 years in November, raising worries about the housing market and the strength of home prices in the long run."

Building permits are an important guage for determining the strength of the real estate market.

Nonetheless, analysts are taking the figure with a grain of salt. Some are even implying that the decline is partially due to shortages of materials caused by this hurricane season.

The more important factor, most analysts seem to agree, is mortgage rates, which are still extremely low, though expected to rise slowly over the next year.

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