Dive summary:

• If you are an American home builder and you feel down despite recent signs of recovery, turn your eyes to England and give thanks for all you've got.
• In the 12 months that fan through the end of September, housing construction starts fell 9% to 54% of the 2006 level, and prices are falling, too.
• Things ought to be better because builders have cash, land prices are low and slow buying should be creating pent-up demand, but European economic troubles and fear about the impermanence of jobs have squashed the potential boom in at least the short term.

From the article:

The euro-zone crisis weighs heavier on the U.K. than on the U.S. Also, the U.K. has just emerged from a double-dip recession and faces a fresh round of austerity measures in the new year. ...