Business: California Cool

Housing begins to slide In California, where the rise in housing prices has been stratospheric, couples have long been willing to sell their souls to the savings and loan — and rent out mother-in-law for window cleaning — in order to realize their dry-wall dreams. But now there are definite signs of slowdown in that willingness to shell out small for tunes for not-so-special homes.

Southern California single-family building permits in August dropped by nearly half, from 7,941 to 3,754, compared with the same month of last year. San Bernardino County, in the Los Angeles suburbs, reports its first housing oversupply...

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