New home construction is crashing. Now down a third in the last year. Meaning no relief in sight for young families: It now takes $104,000 to qualify for a mortgage. Meanwhile, there’s about to be a lot of jobless construction workers even as we’re importing millions.Starts tumbled 11% on the month, and new apartments were down 26% in a single month. That will keep pushing up mortgage costs now running 2600 a month on the median house — more than double what it was 3 years ago.With the Fed now hinting at more rate hikes to come, the pain could last for years.
