Homebuilder sentiment index plunges to record low

(By ALEX VEIGA, AP Real Estate Writer) Homebuilders' confidence in a near-term housing recovery sank to a new all-time low this month, reflecting growing worries over the U.S. financial crisis, rising unemployment and weakening consumer confidence, an industry trade association said Tuesday.The National Association of Home Builders/Wells Fargo housing market index, started in January 1985, tumbled five points to nine in November.

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