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Morning Mortgage Meltdown: It Hurts Less After A While...

For those just tuning in, construction spending fell again in June — the 11th drop in 13 months. As usual, the actual news here is that ... OK, you got us. It's the same old story. Expect more of the same in the coming months, as foreclosed homes continue to saturate the market and crowd out shiny new homes. And soon, analysts expect, nonresidential construction will start feeling the pain too. Group therapy can't be far behind. [SF Gate]