U.S. housing market deteriorated to enlarge the risk of economic recession.

<P> U.S. data released yesterday show that last year in December housing starts fell more than expected annual rate, a 17-year low, suggesting that further deterioration of housing market weakness. .The day before yesterday's Beige Book showed the housing market started to spread to other areas of weakness in the U.S. economy is in urgent need for fiscal measures related to the stimulation. .</ P> <P> housing starts in less than expected </ P> <P>: http://finance. U.S. Department of Commerce data released yesterday show that last year in December housing starts fell 14% per annum, to 100.6 million units, low .than-expected 1.145 million units, the lowest level since 1991. .Annual rate of housing starts in the year 2007 fell 25% to 1.354 million units, the biggest decline since 1980. .Construction started on behalf of the future situation of building permits fell 8.1% annual rate, to 106.8 million, 113.5 million lower than expected for the largest decline in 12 years, </ P> <P> the number of foreclosures increased so .Housing inventories increased, resulting in declining prices and a further blow to the housing starts number. .According to the U.S. Mortgage Bankers Association estimated that in 2008 new home sales may be down 15%, existing home sales may fall 13%. .</ P> <P> weak housing market started to spread </ P> <P> Wednesday, the Fed's Beige Book, November 2007 to mid-December, the U.S. economy to maintain moderate growth, but growth in the previous survey .cycle slowdown. .Beige Book shows that there are clear indications that the U.S. economy is in urgent need for fiscal measures related to the stimulation. .</ P> <P> Beige Book stressed the weakness in U.S. residential construction market, and this proliferation of commercial real estate market has been weak. .The weak state of the housing market is expected to be continued until the end of 2008. .</ P> <P> In addition, the Beige Book said, the United States last month during the holiday shopping season, retail sales were disappointing, despite the risk of decline in wages, inflation pressures still exist. .In addition, the weak dollar to promote exports, such as developments in the field. .</ P> <P> Beige Book on economic activity is mainly conclusion, and the Federal Reserve Open Market Committee January 29-30 meeting on interest rates to prepare. .FOMC is widely expected this month cut the benchmark interest rate by 50 basis points. .</ P>.